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Czech Republic inflation continues to climb in October

Staff Writer |
Consumer prices increased 0.5% in October over the previous month, coming in above market expectations.

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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%.


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