Czech Republic Inflation January 2018

Czech Republic

Czech Republic: Inflation moves closer to Central Bank's target

February 14, 2018

Consumer prices inched up 0.6% in January from the prior month, which is markedly up from 0.0% in December (previously reported: +0.1% month-on-month). Data released by the Statistical Institute showed that the increase in prices was chiefly driven by higher prices for alcoholic beverages and tobacco, as well as for housing, water, electricity, gas and other fuels.

Inflation moderated from 2.4% in December to 2.2% in January. As a result, inflation edged closer to the mid-point of the Central Bank’s 1.0%–3.0% target range. Annual average inflation, meanwhile, was stable in January at the prior month’s 2.5%.

The Central Bank expects inflation of 2.3% for 2018 and 1.9% for 2019. FocusEconomics Consensus Forecast panelists also project that inflation will average 2.3% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect inflation of 2.1%.


Author:, Economist

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CzechRepublic Inflation January 2018

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


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