Unemployment down, inflation still high

Newly released figures suggest that unemployment in the Czech Republic fell in February from 6.1% to 5.9%. According to the figures from the Czech Labour Ministry, the number of Czechs out of work currently stands at 330,641. Meanwhile, inflation levels continue to cause concerns as the prices of many household goods continue to climb. For the second month in a row, prices have risen by an average of 7.5%. Worldwide increases in basic food costs are partly blamed for the figures – the Czech Republic has seen the average price of a loaf of bread increase by 33% from the previous year. Energy prices have also gone up, with petrol, electricity and gas costs increasing by between 9 and 17% on the previous year. Analysts predict that high inflation figures will continue to pose a problem in the Czech Republic throughout the year.