Czech Republic Inflation June 2016

Czech Republic

Czech Republic: Inflation rises modestly in June

July 12, 2016

In June, consumer prices rose 0.1% over the previous month, which contrasted May’s 0.2% drop. According to the Czech Statistical Office, the print mainly reflected an increase in prices for healthcare, transport, education as well as for restaurants and hotels. Meanwhile, prices dropped for clothing, food and non-alcoholic beverages.

Inflation stabilized in June, remaining at May’s 0.1% and was in line with market expectations. 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 inched down from May’s 0.4% to 0.3% in June.

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:, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation June 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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