According to the latest data on inflation rates released by the Czech Statistical Office, consumer prices experienced a year-on-year hike of 2.3% in the second quarter of 2018. The overall consumer price level increased by 0.7% in the second quarter of 2018 compared to the first three months of the year. Photo credit: Pexels.
Brno, Aug 16 (BD) – A report published by the Czech Statistical Office on August 9 reveals the latest inflation rates in the Czech Republic. The data for the second quarter of 2018 shows a rise in consumer prices (Consumer Price Index) by 2.3% year-on-year (compared to the same period of the previous year). According to the report, the rise was mainly a result of price increases in the categories of “transport”, “alcoholic beverages and tobacco”, and “housing, water, electricity, gas and other fuels”. On the other hand, a slowdown in price rises was reported in the “food and non-alcoholic beverages” category.
Prices of rent and electricity showed particularly high jumps in price (1.0% and 0.8%, respectively), according to the report. For example, prices of fuels and lubricants for personal transport equipment went up by 4.8% and transport services by 0.8%. In the “clothing and footwear” category, prices of garments went up by 2.5% and prices of shoes and other footwear by 6.2%. The analysis also states that prices of “maintenance and repair of dwellings” rose as well.
A further increase in the inflation rate may result in Czech goods becoming less competitive in the international market.
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