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Financial News: Czech Inflation Rises In July

Czech Inflation Rises In July

08/13/2020 - 06:35:00 (RTTNews)

(RTTNews) - The Czech consumer price inflation accelerated in July, data from the Czech Statistical Office showed on Thursday.

The consumer price index rose 3.4 percent year-on-year in July, following a 3.3 percent increase in June. Economists had expected a 3.1 percent rise.

Prices for food and non-alcoholic beverages, and clothing and footwear rose by 4.4 percent, each.

Prices of alcoholic beverages and tobacco grew 10.5 percent annually in July and those in restaurants and hotels gained by 5.0 percent.

Meanwhile, prices in the post and telecommunication group declined by 3.9 percent and transport cost fell 0.6 percent.

On a monthly basis, consumer prices rose 0.4 percent in July, faster than economists' forecast of 0.2 percent.

Separate data from the statistical office showed that the import prices fell 1.5 percent annually in June, following a 0.7 percent rise in May.

Export prices grew 2.0 percent yearly in June, following a 2.8 percent increase in the previous month.

On a monthly basis, import prices fell 2.2 percent in June and export prices decreased 1.8 percent.

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