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Financial News: Czech PPI Inflation Slows More Than Forecast

Czech PPI Inflation Slows More Than Forecast

08/16/2022 - 04:09:00 (RTTNews)

(RTTNews) - The Czech Republic's industrial producer price inflation eased more-than-expected in July, figures from the Czech Statistical Office showed on Tuesday.

The industrial producer price index climbed 26.8 percent year-on-year in July, slower than the 28.5 percent spike in June. That was also below the 27.8 percent increase expected by economists.

Among sectors, mining and quarrying prices surged 30.4 percent yearly in July and those for manufacturing products rose 22.7 percent.

Prices for electricity, gas, steam and air conditioning grew sharply by 49.8 percent, and prices related to water supply gained 5.3 percent.

Among the main industrial groupings, prices in the energy sector alone jumped 54.5 percent and those for intermediate goods increased 26.1 percent.

Excluding energy, producer price inflation moderated to 18.0 percent in July from 19.7 in June.

On a monthly basis, producer prices edged up 0.3 percent in July versus an expected increase of 1.1 percent.

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