Czech inflation eased more than expected to a 5-month low in August largely due to a notable decrease in auto fuel prices, data from the Czech Statistical Office showed Wednesday.
Inflation eased to 0.3 percent in August from 0.5 percent in July. This was the lowest since March when the rate was 0.2 percent. It was expected to slow marginally to 0.4 percent.
In 'transport', the price decrease deepened particularly due to automotive fuel prices, which were lower by 12 percent in August.
Month-on-month, consumer prices dropped 0.2 percent, as expected by economists, largely due to the reduction in prices of food and non-alcoholic beverages. Prices had fallen 0.1 percent in July.
Prices of goods dropped 0.5 percent from the prior month, while cost of services rose 0.3 percent.
The increase in the average consumer price index in the twelve months to August compared with the average consumer prices in the previous twelve months, was 0.4 percent.
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