Czech Republic Inflation

Czech Republic

Czech Republic: Inflation moderates in July

August 10, 2015

In July, consumer prices fell 0.1% over the previous month, which contrasted June’s 0.1% increase. According to the Czech Statistical Office, July’s mild drop reflected lower prices for food and non-alcoholic beverages as well as clothing and footwear.

In July, inflation moderated from June’s 0.8%, which marked the highest reading in 18 months, to 0.5%. In addition, the result fell slightly short of the 0.6% rise that the market had expected. As a result, inflation moved further below the Czech National Bank’s (CNB) target range of 1.0% to 3.0%.

The CNB expects that consumer prices will rise 0.1% on average in 2015. For 2016, the CNB sees average inflation of 1.7%. FocusEconomics Consensus Forecast panelists project that inflation will reach 0.5% by the end of 2015, which is unchanged from last month’s Consensus. For 2016, panelists expect inflation to rise to 1.7%.

Author: Teresa Kersting, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation July 2015

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

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