Year-on-year growth in consumer prices accelerated to 8.5 percent in October from 6.9 percent in September. This happened after the previous eight months of reducing the rate of inflation. However, the figure for October is affected by the fact that a year ago statisticians included the government’s energy saving tariff in the calculation as a discount on electricity.
Prague
9:52 a.m November 10, 2023
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Inflation accelerated to 8.5 percent in October due to statistical factors (illustrative photo) | Photo: René Volfík | Source: iROZHLAS.cz
Without this influence, year-on-year inflation would have been below six percent this October, the Czech Statistical Office announced on Friday. In a month-on-month comparison, consumer prices rose by 0.1 percent in October.
“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 amount to 5.8 percent,” said Pavla Šedivá, head of the consumer price statistics department of the Czech Statistical Office.
Housing prices had the greatest influence on the year-on-year increase in price levels in October. The second in order of influence was the prices of food and non-alcoholic beverages.
CTK
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Tags: Inflation accelerated percent October calculation significantly influenced statistical factors iRADIO
