Updates: 13.01.2021 00:29
Prague – Today, the Czech Statistical Office will publish data on inflation for December and the whole of last year. According to analyst estimates, the average inflation rate for the whole of last year was 3.2 percent, which is the highest value since 2012. In December alone, year-on-year inflation fell to 2.5 percent from 2.7 percent in November, mainly due to a high base from the previous year. year. The year before, the average annual inflation rate was 2.8 percent.
“Despite the gradual slowdown in the dynamics of food prices during the year, their prices rose by an average of five percent for the whole of last year and were thus among the main factors of higher inflation last year,” said Jakub Seidler, ING’s chief economist. Other reasons were housing-related prices, in particular rising electricity prices, and higher prices of tobacco and alcohol due to higher excise duties.
According to UniCredit Bank analyst Patrik Rožumberský, the decline in inflation in December was due to a continuing slowdown in food and electricity prices, which showed a higher base effect from December last year.
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