Inflation in Czech Republic
Czech Republic - Harmonized Inflation (end of period)
Inflation plunges to lowest level since April in October
Inflation came in at 15.1% in October, which was down from September’s 18.0%. October's reading marked the weakest inflation rate since April. The decline was broad-based, with reduced price pressures recorded for housing and utilities, food and non-alcoholic beverages, and transportation.
The trend pointed up, with annual average inflation coming in at 13.5% in October (September: 12.7%).
Lastly, consumer prices dropped 1.44% in October over the previous month, contrasting the 0.80% rise seen in September.
Commenting on the short-term outlook for inflation, Frantisek Taborsky, analyst at ING, stated:
“For the coming months, we can expect inflation to be only slightly higher in YoY numbers, but January remains the big question. On the one hand, based on energy supplier announcements and other anecdotal reports, it seems that a massive new year's repricing upwards can be expected. On the other hand, the government's price cap comes into play, which unevenly affects households depending on their contract.”
FocusEconomics Consensus Forecast panelists forecast that inflation will average 8.8% in 2023, which is up 0.4 percentage points from last month’s Consensus, and 3.2% in 2024.
Czech Republic - Harmonized Inflation (eop) Data
|Inflation Rate (HICP, annual variation in %, eop)||-0.1||2.1||2.3||1.6||-|
5 years of economic forecasts for more than 30 economic indicators.
Czech Republic Harmonized Inflation (eop) Chart
Source: Czech Statistical Office and FocusEconomics calculations.
Czech Republic Facts
|Bond Yield||1.64||-1.85 %||Dec 31|
|Exchange Rate||22.76||-0.66 %||Dec 30|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
December 2, 2022
GDP growth moderated to 1.7% year on year in the third quarter, down from 3.6% in the second quarter, but above the preliminary estimate of a 1.6% increase.
November 25, 2022
The economic sentiment indicator, published by the Czech Statistical Office (CSO), rose to 90.1 in November from 89.8 in October. Consumer sentiment increased in November, with the index rising to 76.0 from 71.9 in October, which marked the weakest reading on record.
November 11, 2022
Inflation came in at 15.1% in October, which was down from September’s 18.0%.
November 9, 2022
Industrial output grew 8.3% year on year in working-day adjusted terms in September, which was above August's 7.2% increase.
November 4, 2022
The economy expanded 1.6% in seasonally adjusted year-on-year terms in Q3, following Q2’s 3.7% increase.