Producer price inflation in the Czech Republic weakened more than economists expected in May, latest data showed Monday.
The producer price index moved up 0.3 percent annually in May after gaining 0.5 percent in April, the Czech Statistical Office said. Economists had forecast the rate to growth to ease to 0.4 percent.
Inflation was influenced by a 3.5 percent rise in costs of electricity, gas, steam and air conditioning and a 3.8 percent gain in food, beverages and tobacco prices. Offsetting these gains partially, prices of coke and refined petroleum products dropped 8.8 percent, and costs of rubber and plastic products decreased by 2 percent from a year earlier.
On a monthly basis, Czech output prices decreased a seasonally adjusted 0.3 percent in May, the agency said.
At the same time, output prices in the construction sector slid 1.2 percent year-on-year in May, as they did in the previous month.
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