Czech Inflation Unexpectedly Rises In May

The Czech Republic’s consumer price inflation unexpectedly accelerated in May, data from the Czech Statistical Office showed on Tuesday.

The consumer price index rose 2.9 percent year-on-year in May, after a 2.8 percent increase in April. Economists had expected a 2.7 percent rise.

Prices for housing, water, energy and fuels grew 5.8 percent annually in May. Prices for miscellaneous goods and services rose 4.2 percent and that of restaurants and hotels increased 3.9 percent.

On a month-on-month basis, consumer prices grew 0.7 percent in May.

Separate data from the Czech Statistical Office showed that the import prices rose 3.4 percent annually in April, following a 2.8 percent increase in March.

Export prices grew 3.1 percent year-on-year in April, after a 2.6 percent increase in the previous month.

On a month-on-month basis, import prices increased 0.6 percent in April, and export prices rose 0.3 percent.

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