The inflation rate in the Czech Republic eased for the fifth straight month to 2.3 percent in December of 2020, the lowest since December of 2018 and below market expectations of 2.6 percent. The slowdown in inflation was mainly driven by lower prices of food & non-alcoholic beverages (-0.1 percent vs 1.9 percent in November) and communications (-1.2 percent vs -1.4 percent). Also, costs slowed for clothing & footwear (2.2 percent vs 3.7 percent); housing & utilities (1.2 percent vs 1.4 percent) and restaurants & hotels (4.1 percent vs 4.3 percent). On a monthly basis, consumer prices were down 0.2 percent, following a 0.2 percent increase in the previous month and against market estimates of a flat reading. Downward pressure came mostly from prices food & non-alcoholic beverages (-1.2 percent vs -0.1 percent), of which vegetables (-9.4 percent); and clothing & footwear (-1.3 percent vs flat reading). source: Czech Statistical Office
Inflation Rate in Czech Republic averaged 4.22 percent from 1993 until 2020, 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. This page provides - Czech Republic Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Czech Republic Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
Inflation Rate in Czech Republic is expected to be 1.50 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 2.20 in 12 months time. In the long-term, the Czech Republic Inflation Rate is projected to trend around 2.20 percent in 2022 and 2.00 percent in 2023, according to our econometric models.