Central bank governor: Inflation could drop to one-digit figure by autumn

Prices on the Czech market are falling and inflation is likely to drop to below 10 per cent within two months, Czech National Bank Governor Aleš Michl said in an interview for Novinky.cz.  He said that the bank board was imposing the tightest monetary policy in twenty-five years with the aim to bring inflation to around two percent. The annual inflation rate in Czechia eased to a 15-month low of 11.1% in May 2023 from 12.7% in the previous month. It was over 15 percent in December of last year.