Inflation increased moderately in October in the Czech Republic

By: Trademagazin Date: 2024. 11. 11. 11:35

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Inflation in the Czech Republic increased by 0.3 percent from September to October, which stands at 2.8 percent on an annual basis, the Czech Statistical Office announced on Monday in Prague. Some foods became more expensive, primarily butter and chocolate, household expenses were higher, while fuel became cheaper.

The development of consumer prices corresponds to the expectations of market and economic analysts. “The moderate increase in consumer prices continued in October. On the other hand, fuel prices have been falling for the third month already,” Pavla Sedivá, director of the statistical office, pointed out at a press conference. The price of fuels and oils in October was 11.4 percent lower than a year ago.

Household expenses were primarily increased by a 10.5 percent increase in the price of electricity and an 8.3 percent increase in the price of heating and hot water.

Restaurant prices rose by 6.9 percent on an annual basis in October, and hotel room prices by 9 percent.

As for foodstuffs, butter rose in price by 40.6 percent and chocolate by 14.4 percent.

The price of products was 1.3 percent higher in October, and the price of services was 5.3 percent higher than a year ago.