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Inflation Expected To Average 5.6% in 2022 (Chamber of Commerce)

CZECHIA
  • According to the latest forecasts of the Chamber of Commerce, the Czech economy is expected to grow by 4.3% in 2022 and inflation expected to average 5.6%.
  • GDP growth will be mainly driven by the surge in real wages and the household consumption deferred from 2020 and 2021.
  • Inflation is expected to peak in the first quarter of 2022 at around 7% according to the new forecasts before starting to decelerate gradually.
  • Next week (Dec 22), the CNB is expected to raise its policy rate by 75bps to 3.5% in order to ease the inflationary pressures and support CZK.

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