The Pace Of Inflation Growth In The Czech Republic Slowed In November

The Pace Of Inflation Growth In The Czech Republic Slowed In November

The pace of inflation growth in the Czech Republic also slowed in November and slightly more than economists estimated. At the same time, it reached the lowest level in 13 months. According to the data from the Czech Statistical Office, the reason was a slight increase in the prices of goods and services, especially food. According to the latest statistics, the annual inflation rate in the Czech Republic fell to 2.7% in November 2020 from 2.9% in the previous month. And it lagged slightly behind the estimates of analysts, who expected it to fall to 2.8%. At the same time, food and non-alcoholic beverage prices increased by only 1.9% year-on-year in November, following an increase of 3.2% in October. The growth of prices of clothing and footwear also slowed down to 3.7% from 4.2% in October, as well as housing and public services (to 1.4% from 1.6%), furniture (to 2.3% from 3.2%) and restaurants and hotels (4.3% vs. 4.5%). In a month-on-month comparison, consumer prices in the Czech Republic stagnated in November after an increase of 0.2% in the previous month, while analysts expected them to rise by 0.1%.