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Czech Republic inflation continues to climb in October

Staff Writer | November 10, 2017
Consumer prices increased 0.5% in October over the previous month, coming in above market expectations.
Czech Republic inflation continues to climb
Europe   FocusEconomics
According to the Statistical Institute, the rise was mainly driven by higher prices for food and non-alcoholic beverages.

Prices for both goods and services went up in October, with the former increasing the most.

Inflation rose from 2.7% in September to 2.9% in October, the highest level since October 2012.

As a result, inflation continues to creep up towards the upper limit of the Central Bank’s 1.0%–3.0% target range. Annual average inflation, meanwhile, increased from 2.2% in September to 2.3% in October.

The Central Bank expects average inflation of 2.5% for 2018 and 1.9% for 2019.

FocusEconomics Consensus Forecast panelists project that inflation will average 2.2% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, panelists expect inflation of 2.1%.