The moderation was largely driven by a softer increase in prices for housing and utilities. Inflation in the Czech Republic jumped to 17.2 percent in June on an annual basis, which is above expectations, according to the data of the Czech Statistical Office, DPA reported, quoted by BTA. Unsurprisingly, food, housing, energy and fuel prices drove inflation againin June. In January 2022, consumer price inflation rose by 9.9% y-o-y, considerably higher than the CNB's target range of 2.0% (+/-1.0%). Consumer prices increased by 0.7% in August compared to July. According to our calculations, core inflation also rose further from 13.9% to 14.5%. In June 2022, the European Central Bank (ECB) decided to raise interest rates for the first time in more than eleven years due to the elevated inflation pressure. The CPI is often the official consumer price inflation rate which is recorded in the country itself. I want to use limited functionalities on this website and agree to the use of strictly necessary cookies only. The softer print was largely due to a milder increase in prices for food. As always, the official numbers will be released later today alongside CNB commentary. Credit: Freepik Czech Rep., Sep 12 (BD) - Year-on-year, consumer prices were up 4.1% in August, 0.7 percentage points more than in July. Inflation rose to 17.5% in July, above June's 17.2%. 2021: 3,8 % It was the highest reading since December of 1993, as prices advanced faster for housing & utilities (22.8 percent vs. 21.3 percent in May), food & non-alcoholic beverages (18 percent vs. 15.1 percent), and transport (24 percent vs. 22.6 percent). The Czech economy is projected to grow by 1.8% in 2022 and 2% in 2023. The softer print was largely due to a milder increase in prices for housing and utilities. The lira currency shed 44% against the dollar last year and is down 21% this year. Transportation costs experienced the biggest increase in Wyoming, jumping 16.4% over . In order to measure inflation, an assessment is made of how much the CPI has risen in percentage terms over a give period compared to the CPI in a . The growth of consumer prices amounted to 17.2% year-on-year in June, which was 1.2pp up on May. This is higher than the long term average of 4.29%. The business confidence index decreased to 93.4 from Septembers 93.6. Stats At 18 percent in the Czech Republic, it is at its highest level since the early 1990s. Looking for forecasts related to Inflation in Czech Republic? The S&P Global Manufacturing Purchasing Managers' Index (PMI) fell from 44.7 in September to 41.7 in October, marking the lowest value since May 2020. The economy expanded 1.6% in seasonally adjusted year-on-year terms in Q3, following Q2s 3.7% increase. The picture also remains the same from an annual perspective. No generals have been reported killed since 5 June 2022. Inflation rate as an increase in average annual CPI characterizes the percentage change of the average price level of latest twelve months against the average level of previous twelve months. The Group's owned investment property portfolio grew to 9.9 million sqm of GLA at end Q3 from 9.5 million sqm as at 30 June 2022, with growth . From a market perspective, the result is 0.1pp above expectations. The Czech CPI shows the change in prices of a standard package of goods and services which Czech households purchase for consumption. Latest updates on the Russian economy has inflation running at 12-15% for the year. Meanwhile, inflation dipped to 2.8% in June from May's 2.9%, and thus moved further below the higher bound of the Central Bank's 1.0%-3.0% tolerance range. However, this will lead to renewed pressure on the koruna, which may ultimately lead to an exit from FX interventions or a shift to a more flexible regime compared to the current commitment style, and an additional rate hike in September or at an unscheduled meeting if needed. Inflation rose to 17.2% in June, above May's 16.0%. Prague: Inflation in the Czech Republic rose by 18 per cent year-on-year in September, according to official statistics published by the country's Statistical Office (CSU). Home > News > Learn more about how we use cookies in our cookie statement. Czech Republic: Inflation reaches new all-time high in July August 12, 2022 Consumer prices rose 1.33% from the previous month in July, decelerating slightly from June's 1.58% increase. Czech Republic: Inflation climbs further in June. On the other hand, prices increased faster for food and non-alcoholic beverages (19.6% vs 19.3% in July). June's result was the highest inflation rate on record. Stay up to date with all of INGs latest economic and financial analysis. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. I understand that some functions will not be available. This development came primarily from higher prices in 'recreation and culture'. Rising price pressures have been the key driving forces for hawkish central bank policy in the Czech Republic, with the CNB hiking its policy rate by 75bps at its meeting on February 3 2022. DESPITE SOLID GROWTH IN Q1-Q3 2022, THE CZECH ECONOMY IS HEADING FOR STAGNATION The Czech economy is experiencing inflationary pressures from various sources, causing prices to rise rapidly. We are still on pace to finish 2022 with 2.4x the 20-year average annual funding. However, we believe that inflation near 20% year-on-year will not push the Czech National Bank (CNB) into raising rates in August. Inflation rose to 16.0% in May, above April's 14.2%. Economists had forecast that prices in the country would increase by 17 percent last month, after rising by 16 percent year-on-year in May, DPA noted. Online Store Year-on-year, consumer prices rose by 4.1% in August, the highest inflation rate since November 2008. Furniture, Household Goods and Maintenance; Restaurants and Hotels; Clothing and Footwear; Communication; Health and Education account for the remaining 21.1 percent of total weight. Food and Non-Alcoholic Beverages accounts for 17.1 percent; Transport for 10.1 percent; Alcoholic beverages and Tobacco for 9.5 percent; Recreation and Culture for 8.8 percent and Miscellaneous Goods and Services for 6.8 percent. It was the highest inflation rate since October of 2008, mainly driven by prices of transport (13.5 percent vs 11.6 percent); food and non-alcoholic beverages (2 percent vs 0.9 percent); clothing and footwear (12.4 percent vs 10.5 percent); recreation and culture (5.4 percent vs 4.6 percent) and health (3.8 percent vs 3.3 percent). At its 3 November meeting, the Board of the Czech National Bank (CNB) left the two-week repo rate unchanged at 7.00%. Monthly, consumer prices rose 1.3 percent, easing from a 1.6 percent increase in June and below market forecasts of 1.4 percent. Czech Republic Core Inflation Rate Level Chart No data available Historical Data View and export this data back to 1997. | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed, Czech Republic: Industrial output grows at quickest pace since June 2021 in September, Czech Republic: Economy expands at softer pace in Q3, Czech Republic: The Czech National Bank stands pat in November, Czech Republic: Manufacturing PMI falls further in October, Czech Republic: Economic sentiment weakens further in October. We have a plan for your needs. Czech Republic: monthly . Across the European Union, annual inflation was 2.5% in July 2021, up from 2.2% in June. 2022 Projected Real GDP (% Change) : 1.9; 2022 Projected Consumer Prices (% Change): 16.3; Country Population: 10.522 million; Date of Membership: January 1, 1993; Consumer prices in July increased by 1.0% compared with June. Basic Info Czech Republic Core Inflation Rate is at 14.30%, compared to 14.30% last month and 4.30% last year. The annual inflation rate in Czech Republic eased to 15.1% in October of 2022 from 18% in the previous month, and below market forecasts of 17.9%. However, the month-on-month rate of headline CPI slowed slightly from 1.8% to 1.6%. Although the rate of inflation was slightly down, it remained at a high level clearly above 7%. Trade and manufacturing output will slow. Our current nowcast shows inflation rising further to 17.8% in July, however, given the above we could see a much bigger jump and we could see inflation very close to 20% YoY over the next three months. Main upward pressure came from cost of housing and utilities (24.9% vs 22.9% in August), namely electricity, natural gas and solid fuels; and food and non-alcoholic beverages (21% vs 19.6%). Ukraine's counter-offensive victory! Moreover, prices for recreation and culture grew at a more subdued pace. The increase was mainly driven by higher prices for food, non-alcoholic beverages and housing utilities. For additional years, see the historical inflation rates. 8.5 tonnes per capita GDP 44 198 US$ per capita Data service is momentarily unavailable. If we total all the changes given by the new weights, the impact on the annual CPI was roughly 0.1ppt, suggesting that January inflation would otherwise have been 2.1%. . Client Log In, Facebook Wyoming's inflation rate has been steadily rising since 2021. It hit 7.7% in June 2021 and 9.3% in December. I agree with the use of all cookies. Two important consumer inflation figures are recorded in many European countries: the consumer price index (CPI) and the harmonised consumer price index (HICP). Inflation Rate in Czech Republic averaged 4.40 percent from 1993 until 2022, reaching an all time high of 21.90 percent in February of 1993 and a record low of -0.40 percent in January of 2003. how to expand textarea automatically; numericupdown increment. Current job openings: Czech Inflation Rate Slows More than Expected in October, Czech Republic Retail Sales Fall for 5th Month, Czech Republic Industrial Output Rises More than Expected, Czech Construction Output Drops the Most Since 2021, Czech Economy Contracts First Time Since Q1 2021, Czech Republic Manufacturing PMI Falls to Lowest Since May 2020, Czech Business Morale Weakens to Over 1-1/2-Year Low, Czech Republic Consumer Morale Hits Fresh Low, China Total Social Financing Below Forecasts, South Africa Factory Output Unexpectedly Rises for 3rd Month, Austria Industrial Output Growth Slows in September, Malta Industrial Output Growth Accelerates in September, Slovenia Industrial Output Falls for 2nd Time in a Year, Bulgaria Construction Output Drops 1.3% in September. Prices of goods in total went up by 19.3% and prices of services by 13.9%. (police estimate) on 3 September in the Czech Republic calling for "Czech . The top three spots went to the Baltic countries: Estonia at 22 percent, Lithuania at 20.5 percent, and Latvia at 19.2 percent. Meanwhile, the trend pointed up, with annual average inflation coming in at 9.4% in June (May: 8.2%). On July 19, Prime Minister Pedro Snchez presented his second anti-crisis package to combat the effects of inflation and help those most in need. Google+, Copyright: 2022. Projected growth rate: 2.0% Debt Household debt: 77.1 % of disposable income Government debt: 48.5 % of GDP Tax Tax on personal income: 4.6 % of GDP Data service is momentarily unavailable. . We forecast a 10%, ArticleUS CPI readings have had a habit of disappointing, and markets' stronger, ArticleEnergy markets came under further pressure yesterday as part of a broader risk-off, ArticleOn Wednesday, the European Commission started a new round of intense discussions on, SnapThe main reference rate was left at 6.75%, against the consensus of a 25 basis, ArticlePollsters indicated the US mid-term elections were all about the economy and, SnapSmall loan growth is a direct reflection of weak loan demand and a weak economy, ArticleDifferent shades of recession are spreading across the globe at record speed as, ArticleRecent geopolitical tensions have sparked discussion around de-globalisation and a, ArticleGlobal trade is slowing over faltering consumer demand amid the energy and, ArticleNatural gas prices came under significant pressure in October due to milder weather, ArticleThe bullish and bearish case for energy prices and what those scenarios would mean, ArticleSustainability, inflation and the war in Ukraine continue to weigh on both, ArticleIn the second quarter of 2022, Spanish property prices rose again by 8.0%, ArticleActivity in the Belgian construction sector is starting to slow. sample size formula for known population; why is the czech republic called czechia now Organisation for Economic, MOPAN Multilateral Organisation Performance Assessment Network. In Czech Republic, the most important category in the consumer price index is Housing and Utilities (26.6 percent of total weight). The graph above shows the annual inflation rates in the Czech Republic for the previous 10 calendar years, from 2012. The. We may share information about your use of our site with our social media, advertising and analytics partners. Russian troops withdraw from Unan Kherson - International. It was the highest year-on-year rate since December 1993, Xinhua news agency quoted local media as saying. Annual inflation in the European Union was a record 9.6 percent in June 2022, up from 8.8 percent year on year in May. The annual inflation rate in Czech Republic accelerated to 18% in September of 2022, the highest since December of 1993, from 17.2% in the previous, and above market expectations of 17.2%. The Eurozone has been hit with 10% inflation, and the Czech Republic suffered from 18% inflation in September. Inflation rose to 17.2% in June, above Mays 16.0%. June's result was the highest inflation rate on record. In June 2022, inflation was 10.2 per cent, the highest level in 37 years. Switch to the accessible table representation. Advanced users can use our Python/R/Matlab packages. In May 2022 , the inflation rate had been +7.9%. The economic sentiment indicator, published by the Czech Statistical Office (CSO), fell to 89.8 in October from 90.1 in September. June 10, 2022 By AzeriTimes.com Inflation in the Czech Republic in May reached record highs over the past almost 30 years and in annual terms amounted to 16%, against 14.2% in April, Report informs referring to the Statistical Office of this country. Cookies are small, simple text files stored in your computer, tablet or mobile phone when you visit a website or use an app. Most recent HICP Czech Republic (inflation figure) 17.829 %. 17.5 % in June 2021 and 9.3 % in August, the official consumer price index is housing and.... 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