Financial News: Czech Producer Price Inflation Climbs To 2.8%

Czech Producer Price Inflation Climbs To 2.8%

01/17/2025 - 03:37:00 (RTTNews)

(RTTNews) - The Czech Republic's industrial producer price inflation accelerated for the third straight month in December to the highest level in nineteen months amid higher energy costs, figures from the Czech Statistical Office showed on Friday.

The industrial producer price index climbed 2.8 percent yearly in December, faster than the 1.7 percent rise in November. The expected increase was 2.4 percent.

Further, this was the highest inflation since May 2023, when prices had risen 3.6 percent.

Among the main industrial groupings, prices for energy increased the most by 6.1 percent from last year, and those for capital goods were 3.0 percent higher. Data showed that prices for non-durable consumer goods rose by 1.8 percent.

Excluding energy, industrial producer price inflation was 1.5 percent versus 1.4 percent in November.

On a monthly basis, producer prices moved up 0.6 percent in December.

The average annual producer price inflation rate for the whole year 2024 was 0.8 percent, the agency said.

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