Producer price inflation in the Czech Republic slowed more than economists expected in May, data released by the Czech Statistical Office showed Friday.
The producer price index increased 1.7 percent on an annual basis in May, slower than the 2.2 percent growth seen in April. Economists were looking for an inflation rate of 1.8 percent. In March, the rate of growth was 3 percent.
The growth in prices was influenced by an 8.8 percent rise of prices in coke, refined petroleum products, a 6.2 percent gain in chemical and chemical products prices and a 3.1 percent rise in prices of rubber and plastic products, other non-metallic mineral products, data showed.
Food, beverages and tobacco prices rose 1.6 percent annually, while mining and quarrying prices dropped 6.0 percent during the month.
Month-on-month, output prices remained unchanged in May, the agency said.
by RTT Staff Writer
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