Czech PPI inflation accelerated for the second straight month in September

Czech PPI inflation accelerated for the second straight month in September
Czech producer price inflation accelerated for the second straight month in September, according to the Czech Statistical Office reports on August 16.
By bne IntelliNews October 16, 2017

Czech producer price inflation accelerated for the second straight month in September, according to the Czech Statistical Office reports on August 16.

Industrial producer prices climbed 1.7% year-on-year in September, faster than the 1.4% rise in July, continuing a steady rise in inflation that began in January.

Consumer price inflation has also been climbing all year and CPI topped 2.69% in September, up from 2.49% in the previous two months.

The prices of non-durable consumer goods grew the most, by 3.6% annually, in September.

Month-on-month, producer prices increased 0.4% in September, the fastest rate since the start of the year, but less than the January growth of 0.5%.  

Another report from the statistical office revealed that import prices fell 1.1% in annual terms in August, following a 0.8% drop in July. Compared to the previous month, import prices slid by 0.4%. Export prices decreased 1.2% annually and by 0.1% monthly in August.

"We predict the growth rate to remain at 1.4% y/y, while the markets have a slightly more optimistic anticipation at 1.5% y/y. In month-on-month comparison we expect 0.2%. The news is to reaffirm August reversal of a four months long downward trend of producer price growth.” Raiffeisen Bank International (RBI) said in a note.

Data

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