Food prices also fell in the Czech Republic

This is the lowest level since March 2021 and is close to the Czech central bank’s annual inflation target of 2 percent, noted Pavla Sedivá, director of the statistical office, at a press conference.

Most recently, inflation in the Czech Republic was 2 percent at the end of 2018, and in the spring of 2018 it was below 2 percent. Compared to last year, however, inflation was very high at 17.5 percent. Compared to December 2023, consumer prices in the Czech Republic were 1.5 percent higher in January.

Housing costs and food prices have also decreased. On the other hand, an important factor is that the January inflation was no longer affected by the energy saving measures introduced by the Czech government in 2022, which had the effect of increasing inflation in the last three months of last year.