Inflation hits 11.1 percent in February

Inflation in the Czech Republic accelerated to 11.1 percent in February, up from 9.9 in January, the Czech Statistics office reported on Thursday. The increase has surpassed analysts’ expectations, which were between 10.3 and 10.6 percent. People are paying significantly more for housing, transport and food. Consumer prices are up by 1.3 percent month-on-month. Inflation has been accelerating for eight months in succession and is now at its highest since 1998 when it reached 12 percent.