Inflation grows to 1.9 percent

In a separate set of data, the Czech Statistical Office said that inflation accelerated to a 12-month figure of 1.9 percent in July, the highest since March 2009. From June to July, consumer prices rose by 0.3 percent, pushed up by an increase in holiday prices, statisticians said. The Czech economy, heavily dependent on car production, contracted by 4.1 percent last year, posting the first annual decline in gross domestic product (GDP) since 1998. The central bank expects a recovery this year, with annual GDP growth reaching 1.6 percent.