Inflation hits 12.7 percent in March, expected to reach 15 percent mid-year

Inflation reached 12.7 percent in March, up from 11.1 percent in February, according to data released by the Czech Statistics Office. Inflation is at its highest since 1998 when it reached 13 percent, the report says. Fuel prices in March climbed by 50 percent year-on-year, and Czechs are paying significantly more for electricity and gas. Consumer goods are up by 1.7 percent compared to the previous month. Inflation is expected to rise further and may hit 15 percent in mid-2022.