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Czech Republic Inflation January 2022

Czech Republic: Inflation skyrockets to over 23-year high in January

Consumer prices soared 4.44% from the previous month in January, following December’s 0.42% increase and marking the sharpest jump on record. Looking at the details of the release, December’s increase mainly reflected rising prices for housing, water, electricity, gas and other fuels.

Meanwhile, inflation surged to 9.9% in January from December’s 6.6%, and thus marked the highest reading since July 1998 and moved further above the higher bound of the Central Bank’s 1.0%–3.0% tolerance range. Lastly, annual average inflation rose to 4.5% in January from 3.8% in December, marking the highest reading since April 2009.

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