The Czech Republic’s inflation and unemployment rates were both down in April, according to government data released Monday.
Inflation fell below the 7% level for the first time in 2008, Czech statisticians said. Consumer prices dropped to 6.8% year-on-year in April from 7.1% the previous month and a nine-year peak of 7.5% in January. The April data confirmed forecasts that inflation was falling back from the peak caused earlier this year by the introduction of direct payments in health care, the deregulation of rents, and higher food and energy prices, the Czech National Bank said.
The country’s unemployment rate was down to a nine-year low of 5.2% in April from 5.6% in March, the Labor and Social Affairs Ministry said. An influx of foreign car and electronics makers in recent years has caused the Czech economy to boom but also to suffer from labor shortages. (m&c.com)