Czech Republic Inflation May 2017

Czech Republic

Czech Republic: Inflation rebounds in May

June 9, 2017

In May, consumer prices increased 0.2% from the previous month, up from April’s flat result. According to the Czech Statistical Office, the print mainly reflected higher prices for food and non-alcoholic beverages—especially fruit and pork—and alcoholic beverages and tobacco.

Inflation rebounded in May, increasing to 2.4% from April’s 2.0%. Consequently, inflation moved above the center of the Czech National Bank’s (CNB) target range of 1.0% to 3.0%. Annual average inflation in May was 1.5%, up slightly from April’s 1.3%.

The CNB expects average inflation of 2.5% for 2017 and 2.0% for 2018. FocusEconomics Consensus Forecast panelists project that inflation will average 2.3% in 2017, which is unchanged from last month’s Consensus. For 2018, panelists expect inflation of 2.0%.

Author: Massimo Bassetti, Economist

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