Czech Republic Inflation

Czech Republic

Czech Republic: Inflation stabilizes in January

January 9, 2015

In January, consumer prices rose 0.1% over the previous month, contrasting the 0.1% decrease registered in December. According to the Czech Statistical Office, January’s increase mainly reflects higher prices for beverages, food and tobacco as well as recreation and culture.

In January, annual headline inflation remained at December’s 0.1%, which had marked the lowest rate in six months. The reading overshot the 0.2% decline that the market had expected. 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 drop 0.1% on average in 2015. For 2016, the CNB sees average inflation of 1.8%. FocusEconomics Consensus Forecast panelists project that inflation will reach 0.9% by the end of 2015, which is down 0.5 percentage points from last month’s Consensus. For 2016, panelists expect inflation to rise to 1.8%.

Author:, Senior Economist

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Czech Republic Inflation Chart

Czech Republic Inflation January 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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