Czech Producer Price Inflation Eases To 1.4%, Lowest In 29 Months

(RTTNews) - The Czech Republic's industrial producer prices increased at the slowest pace in nearly two-and-a-half years in July, figures from the Czech Statistical Office showed on Wednesday.

The industrial producer price index climbed 1.4 percent year-on-year in June, slower than the 1.9 percent rise in May. Economists had expected inflation to moderate to 1.5 percent.

Further, this was the weakest rate of increase since February 2021, when prices had grown 1.4 percent.

The annual price growth in the electricity, gas, steam, and air conditioning segments slowed to 15.9 percent in July from 19.6 percent in the prior month.

Among the main industrial groupings, prices for non-durable consumer goods grew the most by 8.2 percent, followed by those for durable goods by 5.1 percent.

Excluding energy, industrial producer price inflation eased to 0.4 percent in July from 1.2 percent in June.

On a monthly basis, producer prices edged down 0.1 percent, in line with expectations.