Czech Republic Inflation August 2016

Czech Republic

Czech Republic: Inflation rises modestly in August

September 9, 2016

In August, consumer prices fell 0.2% over the previous month, which contrasted July’s 0.3% increase. According to the Czech Statistical Office, the print mainly reflected a decrease in prices for food and non-alcoholic beverages as well as for transport.

Inflation inched up in August, increasing to a four-month high of 0.6% from the 0.5% registered in July. However, inflation still remains well below the lower bound of the Czech National Bank’s (CNB) target range of 1.0% to 3.0%. Meanwhile, annual average inflation in August was steady at July’s 0.3%.

The CNB expects average inflation of 0.4% for 2016 and of 1.9% for 2017. FocusEconomics Consensus Forecast panelists project that inflation will average 0.7% in 2016, which is unchanged from last month’s Consensus. For 2017, panelists expect inflation of 1.7%.

Author: Massimo Bassetti, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation August 2016

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

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