Inflation in September Drops Below Seven Percent

Inflation in the Czech Republic accelerated its decline in September. The year-on-year growth of consumer prices reached 6.9 percent, 1.6 percentage points less than in August. Lower prices of food and energy mainly drove this decrease. In comparison to the previous month, prices dropped by 0.7 percent. The Czech Statistical Office (ČSÚ) released the data on Tuesday.

Consumer prices have experienced their eighth consecutive slowdown in year-on-year growth, falling below the seven percent threshold. This marks the lowest value since December 2021, as stated by Pavla Šedivá, the head of the Consumer Price Statistics Department at ČSÚ.

The year-on-year growth of prices slowed down for various food items. Egg prices increased by 7.5 percent, while fruit grew by 7.3 percent. Vegetable prices increased significantly by 20.4 percent, although it was still less than the 24.5 percent growth in August. On a year-on-year basis, semi-skimmed long-life milk (-21.1%) and oils and fats (-13%) became cheaper in September.