Inflation up by 4.1 percent in August, the highest increase since November 2008

Inflation rose by 4.1 percent year-on-year in August, which is 0.7 percentage points more than in July and the most since November 2008, according to data released by the Czech Statistics Office. The record inflation was driven by higher prices of goods and services in almost all sectors as well as by significantly higher housing prices. Most analysts had predicted a stagnation at 3.4 percent in July.