Czech Consumer Price Inflation Eases Further in May

Analysis

The Czech Republic's consumer price inflation eased for the fifth month in a row in May to the lowest level in more than a year, largely due to a slowdown in utility costs as well as in prices of food and non-alcoholic beverages, data from the Czech Statistical Office (CZSO) showed on Monday.

The consumer price index (CPI) climbed 11.1% year-on-year in May, following the 12.7% rise in April.

This was the lowest inflation rate since February 2022, when prices had risen the same 11.1%.

Transport costs dropped further by 22.6% on year in May amid a sharp fall in fuel prices.

On a monthly basis, consumer prices rose 0.3% in May after a 0.2% decline in the previous month. The increase was mainly due to higher prices in the 'food and non-alcoholic beverages' group.

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