Inflation rate in 2022 second highest in modern Czech history

The inflation rate slowed down to 15.8 percent year-on-year in December, down from 16.2 in November, the Czech Statistics Office reported on Wednesday.

The average inflation rate for the whole of last year was 15.1 percent, which is the second highest rate in the modern history of the Czech Republic. It was higher only in 1993, when it reached 20.8 percent.

Prices of goods rose by 16.8 percent in 2022, while prices of services increased by 12.3 percent.