Czech Inflation Unexpectedly Eases

2/09/2011

(RTTNews) - The Czech Republic's consumer price measure of inflation eased sharply to 1.7% in January from 2.3% in the previous month, the Czech Statistical Office said on Wednesday.
Economists had forecast the year-over-year inflation rate to stay unchanged at 2.3%.
The reason was a slowdown in the price rises of alcoholic beverages, fuel, pharmaceutical drugs and vegetables compared to December.
On a month-over-month basis, consumer prices rose 0.7% in January - the lowest monthly inflation rate recorded for a January since 2005. Analysts were expecting a 1.2% increase.
Meanwhile, the Czech Republic's harmonized consumer prices, calculated according to EU standards, rose 1.9% year-on-year in January, compared to a 2.3% increase in the previous month.