Czech Inflation Confirmed At 2.8%

(RTTNews) - The Czech Republic's consumer price inflation eased slightly as expected in January after rising to a 1-year high in the previous month, the latest data from the Czech Statistical Office showed on Wednesday.

Consumer prices climbed 2.8 percent year-over-year in January, slower than the 3.0 percent rise in December. That was in line with the flash data published on February 2.

The annual price growth of housing and utilities slowed to 1.3 percent from 3.9 percent. A decline of 1.7 percent in clothing and footwear prices also had a dampening effect on inflation.

On the other hand, the annual price growth in food, alcohol, and tobacco accelerated to 4.8 percent from 1.7 percent.

On a monthly basis, consumer prices moved up 1.3 percent, as estimated.

The EU measure of inflation also softened to 2.9 percent in January from 3.3 percent. Monthly, the harmonized index of consumer prices, or HICP, rose 1.4 percent.