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Czech Republic Inflation

Czech Republic Inflation

Inflation in Czech Republic

Consumer price inflation in the Czech Republic averaged 3.2% in the ten years to 2022, below the Eastern Europe regional average of 7.7%. The 2022 average figure was 15.1%. For more inflation information, visit our dedicated page.

Czech Republic Inflation Chart

Note: This chart displays Inflation Rate (CPI, annual variation in %) for Czech Republic from 2022 to 2014.
Source: Czech Statistical Office.

Czech Republic Inflation Data

2018 2019 2020 2021 2022
Inflation (CPI, ann. var. %, aop) 2.1 2.8 3.2 3.8 15.1
Inflation (CPI, ann. var. %, eop) 2.0 3.2 2.3 6.6 15.8
Inflation (HICP, ann. var. %, aop) 2.0 2.6 3.3 3.3 14.8
Inflation (PPI, ann. var. %, aop) 2.0 2.6 0.1 7.1 24.3

Inflation increases in April

Inflation came in at 2.9% in April, up from March’s 2.0%. April's reading represented the highest inflation rate since December 2023. Looking at the details of the release, transportation prices rose at a quicker pace in April compared to the previous month, while price pressures for food and non-alcoholic beverages picked up pace. Annual average inflation fell to 6.3% in April (March: 7.1%). Lastly, consumer prices increased 0.66% in April over the previous month, accelerating from the 0.13% rise logged in March.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Czech inflation projections for the next ten years from a panel of 35 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Czech inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Czech inflation projections.

Want to get access to the full dataset of Czech inflation forecasts? Send an email to info@focus-economics.com.

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