Year-on-year inflation rate in Czechia decreases

The pace of year-on-year inflation in Czechia has slowed for another month in a row, according to data published by the Czech Statistics Office on Monday. While consumer prices rose by 8.8 percent year-on-year in July, in August the inflation rate was slightly lower, at 8.5 percent.

Energy and other utilities were the biggest reason for inflation in August, with heating and hot water costs increasing year-on-year by 37.3 percent, natural gas by 34.5 percent, electricity by 23.1 percent, water by 16.3 percent, sewage by 26.9 percent, and rent prices by 7.6 percent. Food prices also saw a significant year-on-year increase, with potatoes, for example, rising in price by 63.5 percent and sugar by 48.7 percent.