Argentina:
Inflation came in at 124.4% in August, up from July’s 113.4%. August’s figure represented the highest inflation rate since our...
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: Macrobond.
Czech Republic Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.8 | 3.2 | 3.8 | 15.1 | 10.7 |
| Inflation (CPI, ann. var. %, eop) | 3.2 | 2.3 | 6.6 | 15.8 | 6.9 |
| Inflation (HICP, ann. var. %, aop) | 2.6 | 3.3 | 3.3 | 14.8 | 12.0 |
| Inflation (PPI, ann. var. %, aop) | 2.6 | 0.1 | 7.1 | 24.3 | 5.0 |
Inflation drops in May
Inflation came in at 2.6% in May, which was down from April’s 2.9% but above the midpoint of the Czech National Bank’s 1.0–3.0% tolerance band. Looking at the details of the release, the moderation was largely driven by softer growth in prices for housing and utilities, food and non-alcoholic beverages, and recreation and culture. Accordingly, the trend pointed down, with annual average inflation coming in at 5.6% in May (April: 6.3%). Finally, consumer prices were unchanged in May over the previous month, below April's 0.66% increase. May's result marked the weakest reading since December 2023.
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 34 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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