Czech consumer prices increased 2.9% in August, remaining within the Czech National Bank’s target range.
Goods and Services Prices
Prices of goods and services rose 2.5% and 3.8%, respectively. Month-on-month, consumer prices gained 0.1 percent in August.
Import and Export Prices
Import prices declined at 1.7% annually in July, while export prices dropped 0.5% y/y. Export prices fell 0.2 percent from June.
Factors
The Czech statistics office attributed the results to a price increase in “alcoholic beverages, tobacco and in housing, water, electricity, gas and other fuels.”