More than Expected. Inflation Rose to 2.4 Percent in May
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4 Articles
Back above two percent. The annual inflation rate in the Czech Republic climbed to 2.4 percent in May, which is an acceleration of 0.6 percentage points compared to April. In a month-on-month comparison, consumer prices rose by 0.5 percent. The Czech Statistical Office (CZSO) reported this in its preliminary estimate on Wednesday.
The estimate of consumer price developments in May published on Wednesday ended a month-long period in which we in the Czech Republic had become accustomed to inflation below two percent. What caused its earlier decline and why is it not permanent? The answer to the first question will come to mind for everyone: the decline in oil prices, multiplied by the weakening...
Inflation was mainly driven by higher prices for services, food and alcoholic beverages.
Consumer prices in the Czech Republic rose by 2.4 percent year-on-year in May. Inflation accelerated from 1.8 percent in April, when it was the lowest in seven years. Month-on-month, prices increased by 0.5 percent, according to a preliminary estimate published by the Czech Statistical Office (CZSO). The CZSO will inform about the final value on Tuesday, June 10, having confirmed its preliminary estimate each time in previous months.
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