Financial News: Czech Producer Price Inflation Eases To 6.4%, Lowest

Czech Producer Price Inflation Eases To 6.4%, Lowest In 22 Months

(RTTNews) - The Czech Republic's industrial producer prices increased at the slowest pace in nearly two years in April, figures from the Czech Statistical Office showed on Thursday.

The industrial producer price index climbed 6.4 percent year-on-year in April, much slower than the 10.2 percent surge in March. Economists had expected inflation to moderate to 7.5 percent.

Further, this was the weakest rate of increase since June 2021, when prices had grown 6.1 percent.

The annual price growth in the electricity, gas, steam, and air conditioning segments slowed to 16.5 percent in April from 21.4 percent in the prior month.

Among the main industrial groupings, prices for non-durable consumer goods grew the most by 15.5 percent, followed by those for energy goods by 8.6 percent.

Excluding energy, industrial producer price inflation eased to 5.7 percent in April from 9.5 percent in March.

On a monthly basis, producer prices dropped 1.2 percent in April. Economists had expected prices to fall slightly, by 0.2 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2023 RTTNews.com. All Rights Reserved

Market News provided by RTTNews