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CZECHIA: CNB Comment on Above-Expectations Headline and Core Inflation Prints

CZECHIA

The CNB have commented on July's inflation print. Highlights below:

  • A stabilisation of core inflation is being fostered not only by weak growth in the prices of foreign inputs, but also the previous protracted downturn in domestic demand due in part to tight CNB monetary policy. 
  • Food prices continued to show an only modest year-on-year decline due to the previous decrease in global agricultural commodity prices and domestic agricultural producer prices. Fuel prices are rising much more slowly than in the spring months.
  • In month-on-month terms, the price level increased by 0.7% in July. This was due mainly to an increase in package holiday prices.
  • According to the CNB’s summer forecast, inflation will be close to the 2% target for the rest of this year.

Full release here. 

CEEMEAEM BulletBulletGlobalEmerging Market NewsRegionCzechia
CEEMEAEM BulletBulletGlobalEmerging Market NewsRegionCzechia

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