Czech inflation eases to 2.4% in Dec 2011, touch above forecasts.

By bne IntelliNews January 10, 2012
Consumer price inflation in the Czech Republic eased 2.4% y/y in December from an 11-month high of 2.5% y/y in the previous month, the statistics office said. Analysts polled by Reuters were expecting prices to advance by 2.3% y/y. Compared to the previous month, prices increased by 0.4% in December, the same as in November. The annual inflation was affected mainly by weaker growth in fuel and transportation prices. Another driver of inflation were higher prices in the housing, water, electricity, gas and other fuels. The monthly increase in prices was mainly due to more expensive food and non-alcoholic beverages. IntelliNews comment : The December inflation was well above the central banks target of 1.7% due to a faster growth in food prices. Analysts expect prices to continue rising at a quicker pace this year following the introduction of a higher rate of the lower VAT bracket. The higher-than-expected inflation, weaker crown and slowing economic growth all speak in favour of the central bank's alternative scenario and is a sign that the bank will most likely keep the rates unchanged in 2012.

Czech inflation eases to 2.4% in Dec 2011, touch above forecasts.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Czech CSSD proposes 2014 general and European elections to be held together.

Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more

Tesco Czech faces fine for selling products containing undeclared horsemeat

The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more

Czech Senate votes to limit immunity of lawmakers, judges.

The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  4. Don't mention the "D" word - Ukraine
    4 days ago
  5. UBN: The US Needs to Wake Up
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. Saudi Arabia to scale back plans for Neom city
    14 days ago

Reports

Dismiss