Inflation in Czech Republic hits four-year high in December
According to the Czech Statistical Office, the print mainly reflected an increase in prices for food and non-alcoholic beverages as well as for restaurants and hotels.
Inflation edged up in December, increasing to a four-year high of 2.0% from November’s 1.5%. Consequently, inflation moved to the center of the Czech National Bank’s (CNB) target range of 1.0% to 3.0%. Annual average inflation in December was 0.7%, up from October’s 0.5%.
The CNB expects average inflation of 1.9% for 2017. FocusEconomics Consensus Forecast panelists project that inflation will average 1.7% in 2017, which is unchanged from last month’s Consensus. For 2018, panelists expect inflation of 2.0%. ■
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