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Financial News: Czech Producer Price Inflation Highest Since November 2011

Czech Producer Price Inflation Highest Since November 2011

05/17/2021 - 04:32:00 (RTTNews)

(RTTNews) - The Czech Republic's producer prices increased to the highest level in nine-and-half years in April, figures from the Czech Statistical Office showed on Monday.

The industrial producer price index grew 4.6 year-on-year in April, following a 3.3 percent increase in March. Economists had expected a 4.1 percent rise.

The latest inflation increased the most since November 2011.

Prices for water supply gained 6.9 percent yearly in April. Prices for manufacturing products cost increased 5.6 percent and those of mining and quarrying rose 1.0 percent.

Meanwhile, prices for electricity, gas, steam and air conditioning declined by 0.1 percent.

Among the main industrial grouping, prices for energy and intermediate goods rose by 9.6 percent and 8.1 percent, respectively.

Meanwhile, prices for non-durable consumer goods decreased 1.9 percent.

On a monthly basis, producer prices rose 0.8 percent in April. Economists had forecast a 0.4 percent rise.

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