Czech Republic Inflation April 2017

Czech Republic

Czech Republic: Inflation recedes in April

May 10, 2017

In April, consumer prices in the Czech Republic remained unchanged from the previous month for the third consecutive month. According to the Czech Statistical Office, the print mainly reflected an increase in prices for clothing and footwear, which was offset by declines in prices for food and non-alcoholic beverages—especially for fruit and vegetables—and alcoholic beverages and tobacco.

Inflation declined in April, decreasing to a four-month low of 2.0% from March’s 2.6%. Consequently, inflation moved to the center of the Czech National Bank’s (CNB) target range of 1.0% to 3.0%. Annual average inflation in April was 1.3%, marginally up from March’s 1.2%.

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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