Czech Republic: Inflation jumps to one-year high in July
Consumer prices jumped 1.04% from the previous month in July, following June’s 0.52% rise and marking the steepest increase in 18 months. Looking at the details of the release, July’s result mainly reflected soaring prices for recreation and culture as well as higher prices for utilities.
Meanwhile, inflation climbed to 3.4% in July from June’s 2.8%, and thus marked the highest reading in one year and moved above the higher bound of the Central Bank’s 1.0%–3.0% tolerance range. Lastly, annual average inflation was stable at June’s 2.8% in July.