The development of fuel and food prices moderated inflation in the Czech Republic

By: Trademagazin Date: 2024. 07. 10. 11:03

Annual inflation in the Czech Republic dropped to two percent in June from 2.6 percent in May, the Czech Statistical Office announced on Wednesday in Prague.

The monthly price decrease was 0.3 percent. In June, the 12-month inflation rate was primarily influenced by the development of fuel and food prices, as well as the decrease in holiday costs, the statisticians pointed out.

“The increase in consumer prices moderated to two percent in June. This is practically a consequence of the fact that the prices of the majority of items that make up the consumer basket were favorable for consumers in June. For example, the prices of food and soft drinks decreased by four percent on an annual basis. This is an important factor.”

– declared Pavla Sedivá, director of the statistical office, at a press conference.

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