Financial News: Czech Inflation Rises To 1.9% In August; Retail

Czech Inflation Rises To 1.9% In August; Retail Sales Growth Rebounds

(RTTNews) - Czechia's consumer price inflation accelerated further as expected in August, while retail sales grew at a faster pace in July, separate reports from the Czech Statistical Office showed on Friday.

Consumer prices climbed 1.9 percent year-over-year in August, faster than the 1.7 percent increase in July, flash data revealed.

Energy costs, including motor fuels, rebounded 2.3 percent versus a 0.3 percent fall a month ago. Prices for goods were 0.2 percent higher after falling 0.2 percent in July. Meanwhile, inflation based on services eased marginally to 4.5 percent from 4.7 percent, and the deflation in food and non-alcoholic beverages deepened to 4.3 percent from 3.1 percent in July.

Retail sales, except for motor vehicles and motorcycles, rose a calendar-adjusted 4.8 percent year-on-year in July, faster than the 3.4 percent increase in June. In May, sales growth was also 4.8 percent.

The annual sales growth in non-food products quickened to 6.6 percent from 5.3 percent, and that in food items improved from 1.7 percent to 2.7 percent.

On a monthly basis, retail sales moved up 0.8 percent in July.

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