Year-on-year inflation in Czechia slowed to 2.7% in July

Consumer prices in Czechia increased by 2.7% year-on-year in July, showing a slowing of inflation from 2.9% in June, when it reached its maximum this year. This follows from a preliminary estimate published on Tuesday by the Czech Statistical Office (CZSO). Analysts had expected inflation to slow to 2.7%, but the CZSO will publish its final value on Friday.

The only item that became cheaper compared with last July was, as in previous months, energy, including fuel. Their cost, according to the preliminary estimate, fell by 4.6% year-on-year.