Czech inflation slows to 1.6 pct in January, lowest since 2016

Consumer prices in the Czech Republic rose by 1.6 percent year on year in January, the slowest growth since November 2016, the Czech Statistics Office said on Friday, confirming its preliminary estimate.

Inflation eased from 2.1 percent in December, mainly due to the transfer of renewable energy payments from consumers to the state. Month on month, prices increased by 0.9 percent, driven primarily by higher food, beverage and tobacco costs.