TNBiz (TNBiz)
Macroeconomics  |  July 07, 2012 09:14:47

Inflation in the Czech Republic in June rose to 3.3 percent, analysts estimate

PRAGUE (MEDIAFAX) - Czech Statistical Office (CSO) on Wednesday publish data on consumer price inflation in the country. Experts addressing the Reuters estimate that inflation in June rose to 3.3 percent in May, consumer price inflation in the CR fell to 3.2 percent from 3.5 percent in April.

"In the case of inflation, we expect stagnation mom, in annual terms is expected to grow to 3.3 percent. This development should be in clothing prices, which was probably a seasonal decline by more than a percentage, and a similar reduction in fuel prices. Against This is an increase in food prices and continued increases in prices of tobacco products, "said the agency Mediafax chief economist at Patria Finance analyst David Marek.

"For June we expect a re-acceleration of inflation to 3.5 percent annually, when the mom would have to increase base rates by 0.1 percent. This is mainly food prices and regulated prices," Komercni banka analyst estimated Jiri Skop, with the in inflation is again reflected and tax changes, particularly higher excise tax on tobacco products. "The decline should instead record fuel prices due to lower oil prices in koruna terms," ??said Skop.

CSOB analyst Petr Dufek said the June annual inflation rises to 3.3 percent, mom will stagnate at zero. "In the June inflation is higher food prices on the one hand, and cheaper fuel on the other. Were more expensive and seasonal recreation," said Dufek.

Consumer prices in May compared with April rose by 0.2 percent, growth was influenced mainly by higher prices of food and soft drinks. Annual consumer price inflation slowed to 3.2 percent (from 3.5 percent in April) and was the lowest since early 2012.

Monthly rise in consumer prices of food and soft drinks influenced by the Czech Statistical Office mainly higher prices of vegetables and fruit 6.4 percent to 5.2 percent. Prices of flour rose by 1.4 percent, pork by 1.1 percent, fish by 2.4 percent, 1.3 percent milk, yoghurts by 4.7 percent, 1.5 percent sugar and cocoa by 3.9 percent. In housing, the net rent increased 0.7 percent, of which 1.7 percent of the regulated market and by 0.2 percent. Prices of tobacco products increased by one percent.Price growth in health care affect the seasonal price increase spa visits by 6.5 percent and drug prices by 0.6 percent.

Jan Soukup,

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