Producer price inflation in the Czech Republic slowed less than economists expected in March, data released by the Czech Statistical Office showed Monday.
The output price index increased 3 percent on an annual basis in March, slower than the 3.6 percent growth recorded in February. Economists were expecting inflation to ease to 2.9 percent. In January, the inflation rate was 4.1 percent.
Output prices of food, beverages and tobacco rose 0.7 percent year-on-year, while costs of wood, wood products, printing and paper remained unchanged during the month. There was a 0.2 percent annual growth in prices of chemicals and chemical products, and a 0.3 percent rise in prices of electricity, gas, steam and air conditioning.
On a monthly basis, producer prices moved up 0.3 percent during the month.
Separately, the agency said Czech import prices declined 1.2 percent month-on-month in February. Annually, import prices grew 5.8 percent. Export prices decreased 1.3 percent month-on-month, while they moved up 4.2 percent annually.
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