Inflation in Czechia falls to 1.4 percent, lowest since 2016

Annual inflation in Czechia slowed to 1.4 percent in February, the lowest level since October 2016, according to a preliminary estimate released by the Czech Statistical Office. Compared with January, consumer prices fell by 0.1 percent. The decline was driven mainly by lower energy prices, which dropped 7.8 percent year on year. Prices of goods overall fell by 0.7 percent, while services rose by 4.5 percent. Food and non-alcoholic beverages increased by 0.4 percent, and alcohol and tobacco by four percent. The statistical office is expected to publish the final inflation figures on March 10.