Czech Republic Inflation March 2018

Czech Republic

Czech Republic: Inflation stays below the Central Bank's target in March

April 10, 2018

Consumer prices in the Czech Republic dropped 0.1% in March from the prior month, coming in below February’s flat reading. The result surprised on the downside market analysts, who had expected consumer prices to remain unchanged from the previous month. Data released by the Statistical Institute (CSO) revealed that the fall in consumer prices was driven by lower prices for recreation and culture, and food and non-alcoholic beverages.

Inflation moderated from 1.8% in February to 1.7% in March, marking the second consecutive month in which inflation came in below the Central Bank’s target of 2.0%. February was the first month since November 2016 in which inflation came in below the Central Bank’s target. Annual average inflation, meanwhile, eased from the previous month’s 2.4% to 2.3% in March.

The Central Bank expects inflation of 2.3% for 2018 and 1.9% for 2019. FocusEconomics Consensus Forecast panelists also project that inflation will average 2.3% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect inflation of 2.1%.

Author:, Economist

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Czech Republic Inflation Chart

CzechRepublic Inflation March 2018

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

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