Czech Republic Inflation

Czech Republic

Czech Republic: Inflation rises in April

May 12, 2015

In April, consumer prices rose 0.3% over the previous month, coming in above the 0.1% increase registered in March. According to the Czech Statistical Office, April’s surge mainly reflects higher prices for clothing and footwear, transport as well as for food and non-alcoholic beverages.

In April, headline inflation increased from March’s 0.2% to 0.5%, the highest reading in five months. The result slightly overshot the 0.4% rise that the market had expected. Nevertheless, inflation remains well 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 0.3% by the end of 2015, which is down 0.1 percentage points 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 April 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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