Czech inflation increases in January

Figures

Photo by noppawan09/Shutterstock.com

The Czech Republic’s inflation accelerated in January, according to data from the Czech Statistical Office (CZSO). 

Photo by noppawan09/Shutterstock.com

The consumer price index (CPI) rose 3.6% year-on-year in January, following a 3.2% increase in December. The latest inflation was the highest since March 2012.

Prices for food and non-alcoholic beverages grew 6.3% annually in January and those of restaurants and hotels, and housing, water, energy and fuel grew by 5.3% and 4.6%, respectively. Meanwhile, prices in the post and telecommunication group declined by 4%.

On a monthly basis, consumer prices rose 1.5% in January. In its preliminary report, the Prague-based agency also said on Friday, that the country’s economic growth slowed sharply to 1.7% in the last quarter of 2019 after a 2.5% expansion in the prior quarter.

The latest pace of growth was the slowest since the first quarter of 2014, when the economy grew 1.6%. In the full year 2019, the economy grew 2.4%, supported by household consumption and exports. The Czech economy grew 2.8% in 2018.

ADVERTISEMENT

Czech economic confidence weakens in September Analysis

Czech economic confidence weakens in September

Parl't extends pandemic legal provisions Parliament

Parl't extends pandemic legal provisions

Energy Efficiency: End-users, Energy Traders and Other Stake... Inside View

Energy Efficiency: End-users, Energy Traders and Other Stake...

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.