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Monetary Department Chief Says Inflation Will Reach Single Digits In 2H2023

CNB

CNB Monetary Department chief (not an MPC member) Petr Kral told Byznys CT24 Special that "year-on-year inflation will be more than one percentage point lower each month than it was in the previous month," according to a transcript published on the central bank's website.

  • "Around the middle of the year, we should reach the 10 percent rate of price growth, and in he second half of this year, inflation will reach single digit values," Kral said.
  • The official noted that inflation outturns match forecasts ("the deviation in March inflation was really small"), with cooling observed in expected sectors.
  • "The exchange rate of the Koruna is strengthening. This is an important helper in the fight against inflation."
  • "The full effect of tightening is now just beginning to show. And so, there's great hope that our inflation will fall to single-digit levels faster than elsewhere around us."
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