Consumer price growth lowest since March 2021

Year-on-year consumer price growth in Czechia slowed to 2.3 percent in January, down from 6.9 percent in December, according to figures released by the Czech Statistics Office on Thursday. While the figure is the lowest since March 2021, it is still above the Czech National Bank’s two-percent inflation target.

According to experts, the slowdown in year-on-year inflation was mainly due to housing-related prices. Electricity prices in particular dropped to 13.3 per cent in January, having previously risen by 142.4 percent in December.