Czech inflation slowed for the eighth straight month in September to the lowest since late 2021, largely driven by the slowdown in fuel and food price growth, the Czech Statistical Office reported Tuesday.
Consumer prices climbed 6.9 percent from a year ago, slower than the 8.5 percent rise in August. The latest rate was the weakest since December 2021 and slower than economists’ forecast of 7.5 percent.
The larger-than-expected fall in inflation raises the chance of policymakers’ kick-starting a monetary easing cycle at their next meeting in November, Capital Economics’ economist Nicholas Farr said.
Prices of goods and services went up 7.0 percent and 6.7 percent, respectively. On a monthly basis, consumer prices fell 0.7 percent in September mainly due to the drop in prices of recreation and culture, food and non-alcoholic beverages and housing, water, electricity, gas and other fuels.