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.