For Czechs, meat went up by 23.6 percent, milk, cheese and eggs by 25.8 percent

By: Trademagazin Date: 2022. 10. 11. 12:00

In the Czech Republic, annual inflation rose to 18 percent in September after 17.2 percent in August. Inflation higher than this was last seen in December 1993, the Czech Statistical Office announced on Tuesday in Prague.

Food prices also continued to rise

The increase in inflation, both on an annual and monthly level, was influenced to the greatest extent by the increase in housing costs, primarily by the rise in energy prices.While in August the annual inflation dropped to 17.2 percent from 17.5 percent in July, it jumped again in September. The vast majority of market analysts, on the other hand, expected inflation to stagnate, or possibly a further moderate decrease.

“The biggest contribution to the acceleration of inflation growth was the average increase of almost fifty percent in housing costs, primarily energy and fuel prices”

– pointed out Pavla Sedivá, head of department of the statistical office.

He explained: the price of electricity rose by 37.8 percent, and that of natural gas by 85.9 percent. Compared to August, in both cases it is an acceleration of price increases.

MTI