Inflation showing signs of easing

The year-on-year inflation rate in Czechia decreased to 15.1 percent in October from 18 percent the month before, according to data published by the Czech Statistical Office on Thursday. This was well below the market forecast, which had predicted that the inflation rate in October would be 17.9 percent.

According to the Czech Statistical Office, the main reason for the decline was the government's saving measures for households such as the energy-saving tariff, which helped to bring down the inflation rate for utilities from 24.9 to 11.1 percent.

Month-on-month, consumer prices dropped by 1.4 percent – the first decline in 22 months. The Czech Republic has now moved from the European country with the 10th highest inflation rate to the country with the 15th highest.