Czechia’s annual consumer inflation eased to 2.4 per cent in October, although prices rose 0.4 per cent from September. Food was cheaper than a year earlier, partly reflecting a higher comparison base. Transport remained the largest upward influence on annual inflation, while services prices rose faster than goods and actual rents continued to increase.
Economics & Markets··Night
Annual inflation slows to 2.4 per cent
Czechia’s October annual consumer inflation was confirmed at 2.4 per cent, compared with 2.5 per cent in September. Food and non-alcoholic beverages cost less than a year earlier.[1], [2]
The Czech Statistical Office, the national statistics agency, measured a 0.4 per cent monthly increase in the general price level. It attributed the deeper annual food decline partly to a higher comparison base. Food prices were 4 per cent below the previous October. Pork and eggs each cost 19.6 per cent less over the year.[1]
Transport pushes annual prices higher
Transport made the largest upward contribution to the annual price level. Fuels and lubricants for personal transport equipment were 35.6 per cent more expensive than a year earlier, even though they fell 1.5 per cent from September. Actual rents increased 6.4 per cent annually and 0.7 per cent monthly. Dwelling maintenance and repair materials and services rose 5.2 per cent over the year.[1]
Services rise faster than goods
Services prices increased 4.5 per cent annually, compared with 0.9 per cent for goods. In the monthly comparison, goods rose 0.4 per cent and services 0.3 per cent. The preliminary harmonized consumer price index increased 2.1 per cent annually and 0.4 per cent monthly. Average prices over the latest twelve months were 2 per cent above the preceding twelve-month average.[1]
