Inflation in the Czech Republic: In October, it jumped to 8.5 percent


“The acceleration of year-on-year price growth to 8.5 percent in October was primarily due to last year’s effect of the energy-saving tariff on electricity prices. If we did not include this cost-saving tariff in the calculation, the price increase would be 5.8 percent,” said Pavla Šedivá, head of the Consumer Price Statistics Department of the CZSO.

The prices of goods in October rose by 10.1 percent compared to last year. For services, statistics recorded an increase of 6.1 percent.

Housing prices had the greatest influence on the year-on-year increase in price levels in October. Rents in apartments went up by almost eight percent, water by 16.3 percent and sewage by more than a quarter. Electricity prices statistically accelerated year-on-year growth to almost 150 percent, which was reflected in the energy-saving tariff calculated just last year. Without this influence, the price of electricity this October would have been higher by less than 25 percent year-on-year, according to statistics.

The second most affected were the prices of food and non-alcoholic beverages, which, according to statistics, rose by 3.7 percent. Year-on-year bread prices rose by around five percent and vegetables by 12.4 percent, while potato prices rose by almost half year-on-year compared to last October. But it made eggs cheaper, by 6.2 percent, or sugar, the price of which fell by more than a tenth year-on-year.

In the recreation and culture section, the prices of holidays with complex services were higher in October, by 11.6 percent. The prices of catering services rose by almost nine percent year-on-year, and the prices of accommodation by 12.2 percent.

Discounts in the transport section contributed to the year-on-year decrease in the price level in October. Car prices fell by 4.3 percent and fuel and oil prices by 7.3 percent.

Month-on-month, consumer prices rose by 0.1 percent in October. The prices of goods in total remained at the September level, services rose in price by 0.2 percent.

The article is in Czech


Tags: Inflation Czech Republic October jumped percent


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