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Financial News: Czech Inflation Eases Unexpectedly In August

Czech Inflation Eases Unexpectedly In August

09/12/2022 - 04:34:00 (RTTNews)

(RTTNews) - The Czech consumer price inflation eased unexpectedly in August, though marginally, data from the Czech Statistical Office showed on Monday.

Consumer prices climbed 17.2 percent year-over-year in August, slower than the 17.5 percent rise in July. In contrast, economists had expected inflation to increase to 17.7 percent.

Utility costs alone grew 22.9 percent annually in August, and transport charges also registered a double-digit growth of 19.1 percent.

Prices for food and non-alcoholic beverages were 19.6 percent more expensive compared to last year, and those for clothing and footwear gained 18.8 percent.

On a monthly basis, consumer prices moved up 0.4 percent in August versus an expected increase of 0.8 percent.

The monthly increase was contributed by all consumer basket divisions except transport, amid a significant drop in fuel prices.

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