Inflation will exceed seven percent in January, says National Bank board member

January will see inflation in the Czech Republic almost certainly cross the 7 percent mark and possibly reach 8 percent, Czech National Bank board member Tomáš Holub told Czech Television on Sunday. The seven percent mark is, according to Holub, an optimistic estimate. However, he said that he does not believe that inflation will be as high as 10 percent, as some other analysts predict.

The statement comes after several months of inflation accelerating in the country, with November showing a 6 percent year-on-year rise in prices that exceeded Czech National Bank estimates by 1.1 percent.