Czech inflation accelerates in October with 2.8% year-on-year rise

Consumer prices in the Czech Republic rose by 2.8% year-on-year in October, up from September's 2.6%, according to the Czech Statistical Office (ČSÚ). The increase was driven mainly by higher housing costs and rising prices of items like butter and chocolate, while fuel prices dropped. Month-on-month, prices were up by 0.3%. “Consumer prices continued to accelerate year-on-year growth in October, though this was moderated by fuel prices, which have declined for three consecutive months,” said Pavla Šedivá, head of the ČSÚ’s consumer price statistics department. Analysts had anticipated this trend.