Czech Republic Inflation January 2016

Czech Republic

Czech Republic: Inflation jumps to seven-month high in January

February 12, 2016

In January, consumer prices rose 0.6% over the previous month, which contrasted December’s 0.1% decline. According to the Czech Statistical Office, the print mainly reflected higher prices for food and non-alcoholic beverages as well as for alcoholic beverages and tobacco.

Inflation rose from 0.1% in December to 0.6% in January. The result marked the highest reading in seven months and slightly exceeded market expectations of 0.5%. Despite of the increase, inflation remained below the Czech National Bank’s (CNB) target range of 1.0% to 3.0%.

The CNB expects average inflation of 1.4% for 2016. FocusEconomics Consensus Forecast panelists project that inflation will average 1.1% in 2016, which is unchanged from last month’s Consensus. For 2017, panelists expect inflation of 2.0%.

Author: Teresa Kersting, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation January 2016

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Czech National Statistics Office (CSO).

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