{"id":23034,"date":"2024-01-11T12:57:33","date_gmt":"2024-01-11T10:57:33","guid":{"rendered":"https:\/\/centraleuropeantimes.com\/?p=23034"},"modified":"2024-01-11T14:15:47","modified_gmt":"2024-01-11T12:15:47","slug":"czech-inflation-second-highest-ever-in-2023","status":"publish","type":"post","link":"https:\/\/centraleuropeantimes.com\/2024\/01\/czech-inflation-second-highest-ever-in-2023\/","title":{"rendered":"Czech inflation second highest ever in 2023"},"content":{"rendered":"<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<p>Czechia&#8217;s rate of inflation was 10.7% last year, down from 15.1% in 2022, but still representing the country&#8217;s second-highest annual inflation rate since the creation of the independent Czechia in 1993, according to data from&nbsp;<a href=\"https:\/\/www.czso.cz\/csu\/czso\/cri\/indexy-spotrebitelskych-cen-inflace-prosinec-2023\" target=\"_blank\" rel=\"noreferrer noopener\">the Czech Statistical Office<\/a>&nbsp;(CZSO) published on Thursday 11 January.&nbsp; <\/p>\n\n\n\n<p>The CZSO also published information on foreign trade prices, as price rises for exports slowed slightly to 2.1% in November, from 2.2% the previous month. The decline in imports moderated to 5.7% month-on-month, from 6.5% in October.<\/p>\n\n\n\n<p><strong>Czech central banker explains inflation policy<\/strong><\/p>\n\n\n\n<p>The Czech Central Bank (CNB) cut its main inflation rate by 25 basis-points to 6.75% on 21 December. Lowering interest rates depends on the pace of falling inflation, CNB Vice-Governor Eva Zamrazilova said in a TV debate on Sunday, 7 January. <\/p>\n\n\n\n<p>If the decline towards inflation of 2% is slower than expected, this will see the CNB make &#8220;small, 25-basis point decreases&#8221;, she said. If inflation falls faster, &#8220;a more significant rate lowering&#8221; is possible, news agency Reuters reported Zamrazilova as saying. <\/p>\n\n\n\n<p><strong>Goods, services continue to rise in cost<\/strong><\/p>\n\n\n\n<p>The prices of goods rose by 7.6% year-on-year in December, and services were 5.7% up, according to the CZSO data released Thursday.\u00a0The prices of goods fell by 0.8% month-on-month, while services rose by 0.2%.\u00a0&#8220;In 2023, the prices of goods increased by 12.1% and the prices of services by 8.4%,&#8221; said Pavla Sediva, head of the CZSO consumer price statistics department.<\/p>\n\n\n\n<p>The price of housing rose on an annual basis in Czechia in 2023, as people were paying 7.3% more rent. Prices were up a massive 142.4% for electricity and rose 16.3% for water.&nbsp;On the other hand, natural gas was 7.7% cheaper and solid fuel prices fell 2%.<\/p>\n\n\n\n<p>Czech consumer prices were up 6.9% year-on-year in December, down from 7.3% the previous month,  mainly due to food and non-alcoholic beverage prices.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span> Czechia&#8217;s rate of inflation was 10.7% last year, down from 15.1% in 2022, but still representing the country&#8217;s second-highest annual inflation rate since the creation of the independent Czechia in 1993, according to data from&nbsp;the Czech Statistical Office&nbsp;(CZSO) published on Thursday 11 January.&nbsp; The CZSO also published information on foreign trade prices, as price rises  &#8230;<\/p>\n","protected":false},"author":2,"featured_media":23051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[46,506],"tags":[162,282],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - 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