Czech Republic: Inflation edges down in July
Consumer prices increased 0.2% in July from the previous month, moderating from June’s 0.4% rise. Data released by the Czech Statistical Office (CSO) revealed that July’s climb was mainly driven by higher prices for recreation and culture, which in large part reflected higher seasonal prices for package holidays.
Inflation edged down to 2.3% in July from 2.6% in June. As a result, inflation moved closer to the midpoint of the Central Bank’s 1.0%–3.0% tolerance band. Annual average inflation, meanwhile, held steady at 2.3% for the fifth consecutive month.