2024.01.1107:35:00UTC+00Czech Inflation Eases Unexpectedly To 6.9%

The Czech Republic's consumer price inflation eased for the second straight month in December, largely due to a fall in food costs, data from the Czech Statistical Office showed on Thursday.

Consumer prices climbed 6.9 percent year-over-year in December, slower than the 7.3 percent rise in November. Meanwhile, economists had expected inflation to remain stable at 7.3 percent.

The overall strong inflation in April was largely driven by a 4.6 percent rise in utility costs.

Meanwhile, the downward trend in inflation was mainly caused by a 0.1 percent decline in prices for food and non-alcoholic beverages.

On a monthly basis, consumer prices dropped 0.4 percent in December, while they were expected to remain flat.

The overall inflation in 2023 was 10.7 percent, down notably from 15.1 percent in 2022. Prices of goods in total rose by 12.1 percent and costs of services by 8.4 percent in 2023.