Czech inflation at 7-month low in July
2012-08-09 10:51:21
Inflation in Czech Republic eased to its weakest level in seven months in July, mainly driven by a slower increase in food costs, data released by the Czech Statistical Office showed Thursday.
The year-on-year rate of change in the consumer price index eased to 3.1 percent in July from 3.5 percent in June. Economists had forecast a modest fall to 3.4 percent.
The latest rate was the lowest since December 2011, when the CPI rose 2.4 percent.
Price growth in food and non-alcoholic beverages decelerated to 7 percent annually in July from 8.4 percent in June. The rate of increase in prices of vegetables slowed significantly to 7.3 percent from 18.5 percent in June.
The biggest upward effect on the annual consumer price level came from utilities, which were 4.8 percent more expensive than a year earlier.
Month-on-month, the CPI fell 0.1 percent against expectations for a 0.2 percent increase.