The inflation rate in the Czech Republic rose to 2.9 percent year-on-year in July 2019 from 2.7 percent in the previous month and above market expectations of 2.8 percent. Upward pressure came from: food and non-alcoholic beverages (4.1 percent vs 2.7 percent in June); recreation and culture (1.7 percent vs 1.4 percent); and miscellaneous goods and services (3.9 percent vs 3.8 percent). On the other hand, inflation was unchanged for housing (at 5.5 percent) and slowed for alcoholic beverages, tobacco (1.2 percent vs 1.8 percent), while transport costs continued to fall (-0.7 percent vs -0.1 percent). On a monthly basis, consumer prices rose 0.4 percent in July, after a 0.2 percent gain in June. Inflation Rate in Czech Republic averaged 4.28 percent from 1993 until 2019, 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.
Inflation Rate in Czech Republic is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Czech Republic to stand at 2.40 in 12 months time. In the long-term, the Czech Republic Inflation Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.