The Czech National Bank reported that annual inflation rose from 1.9% in August to 2.5% in September, above the 2.2% forecast in its summer Monetary Policy Report, while consumer prices were unchanged month on month. Elevated global oil prices and refining costs amid the Middle East conflict drove the increase, with fuel prices rising 37.5% year on year and contributing more than 1 percentage point to headline inflation. Reduced excise duty and fuel price caps will begin affecting the data in October. Core inflation increased to 3.1% from 3%, as goods inflation accelerated to 0.8% and services prices continued to rise by 4.5%. Falling food prices still dampened inflation, although their annual decline slowed. The central bank expects inflation to remain between 2% and 3% for the rest of 2026 before temporarily rising above 3% in early 2027.
Czech National Bank attributes September inflation rise to fuel costs, expects 2% to 3% through year-end
The Czech National Bank reported that annual inflation rose to 2.5% in September, mainly because elevated fuel prices contributed more than 1 percentage point to the headline rate. Core inflation edged up to 3.1%. Inflation is expected to remain between 2% and 3% through year-end before temporarily exceeding 3% in early 2027.