Czech Republic: Inflation picks up for a third month running in October
Latest reading: Inflation rose for a third consecutive month in October, coming in at 2.8%, which was up from September’s 2.6%, and met market expectations. October’s figure represented the highest inflation rate since April and it moved closer to the upper bound of the Czech National Bank’s 1.0–3.0% tolerance band. Looking at the details of the release, the acceleration was broad-based, with greater price pressures recorded for housing and utilities, food and non-alcoholic beverages, and transportation.
Still, the trend pointed down, with annual average inflation coming in at 3.1% in October (September: 3.5%).
Finally, consumer prices increased 0.33% in October over the previous month, contrasting September’s 0.39% drop.