July inflation at 17.5 percent

July saw year-on-year inflation reach 17.5 percent, rising for the 13th month in a row, the Czech Statistics Agency reported on Wednesday. However, in month-on-month terms, inflation grew by 1.3 percent in July, the lowest registered rise since February.

The sharpest rise was registered among energy and food prices. Gas, for example, saw a year-on-year price rise of 59.8 percent. Meanwhile, electricity prices rose by around a third.

Analysts questioned by the Czech News Agency highlighted that the July increase was lower when compared to the steep climb registered in previous months. However, they also noted that this may be down to the methodology used by the statisticians. Czech Banking Association analyst Jakub Seidler said that he expects inflation to attack the 20 percent mark in the coming months, with a noticeable decrease only occurring next year.