Czech Inflation Accelerates Less Than Forecast

The Czech consumer price inflation continued to its rising trend in July, though at a slower-than-expected pace, data from the Czech Statistical Office showed on Wednesday.

Consumer prices climbed 17.5 percent year-over-year in July, following a 17.2 percent rise in June. Economists had expected inflation to increase to 17.6 percent.

Utility costs alone grew 23.1 percent annually in July, and transport charges also registered a double-digit growth of 23.0 percent.

Prices for food and non-alcoholic beverages were 19.3 percent more expensive compared to last year, and those for restaurants and hotels gained 23.5 percent.

On a monthly basis, consumer prices moved up 1.3 percent in July, which was the lowest rate of increase in five months. The expected rise was 1.4 percent.

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