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Czech Inflation Highest Since Dec 2012

Czech consumer price inflation accelerated for a third straight month in December to its highest level since late 2012, figures from the Czech Statistical Office showed Tuesday.

The consumer price index rose 2 percent year-on-year following 1.5 percent increase in November. Economists had forecast an increase of 1.9 percent.

The latest inflation rate was the highest since December 2012, when it was 2.4 percent.

The increase in the annual figure was mainly led by higher prices for 'food and non-alcoholic beverages', where prices for a several food products rebounded. Automotive fuel prices also recovered strongly from a decline in November.

On a month-on-month basis, the CPI rose 0.3 percent for a third consecutive month. that was in line with economists' expectations.

The average inflation rate for 2016 was 0.7 percent versus 0.3 percent in 2015. The latest figure was the highest in three years.

by RTTNews Staff Writer

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