Central bank governor: Inflation will rise even higher

Inflation in the Czech Republic may rise to around 13 or 14 percent before peaking, Czech National Bank Governer Jiří Rusnok said in an interview for Seznam.cz. Mr. Rusnok said he did not expect inflation to recede this year. Inflation has risen for eight months in succession and the central bank has been fighting the trend with periodic interest rate hikes.  Even so, inflation reached 11.1 percent in February, the highest level since June 1998. The figure, which exceeded expectations, does not yet reflect the effects of the war in Ukraine.