Year-on-year inflation decreases and hits central bank target

Year-on-year inflation decreased to 2 percent in February, the Czech National Bank's target inflation rate, the Czech Statistics Office announced on Monday. This is the lowest inflation rate Czechia has seen since December 2018. The central bank's forecast expects inflation to hover around the two percent target for the rest of the year, with an average inflation rate of 2.6 percent.

Year-on-year inflation has been gradually decreasing over the last year, with the exception of October when it rose again slightly. Last February, inflation was at 16.7 percent.