Inflation in the Czech Republic slows down. In December 2022, it was 15.8 percent, while in November it was 16.2 percent, the Czech Statistical Office announced on Wednesday. The increase in prices last month was lower than analysts expected.
Economists predicted that inflation in December it will reach 16.4 percent. Every year.
The Czech Statistical Office also informed that inflation in December 2022 on a monthly basis did not change, and the average annual inflation of prices of consumer goods and services last year amounted to 15.1 percent.
The Office said that the inflation slowdown in annual terms was mainly due to prices in “transport”, where the increase in passenger car prices slowed down to 9.2 percent. (in November an increase of 12.7 percent.) and fuel prices and lubricants for means of personal transport to 4.4 percent. (in November an increase of 14.5 percent).
Inflation in the Czech Republic – comments
“Czechs also surprise with a lower than expected inflation reading. In December, inflation in the Czech Republic fell to 15.8 percent. y/y 16.2 percent, contrary to market expectations assuming its acceleration to 16.4 percent. The Czechs have also probably passed the peak of core inflation,” Bank Pekao economists wrote.
Dom Maklerski XTB pointed out that inflation in the Czech Republic is “slightly higher than in Poland”. According to preliminary data from the Central Statistical Office inflation in December amounted to 16.6 percent year on year.
“However, the Czech Republic can boast of a stronger crown than the Polish zloty, especially in the last 2 months. These are good signs for Poland and #PLN,” we read in a Twitter post.
Main photo source: EPA/MARTIN DIVISEK