All analysis from category Macro comment
Macro comment
Consumer prices in November: Inflation calms down
One of the main positive aspects of the Czech economy is stability. Macroeconomic stability. An essential part of this is price stability, i.e. low inflation. In 2022 and 2023, a high wave of inflation swept through Czechia, but now price developments are back under control. In November, the consumer price index fell by 0.3 percent and year-on-year inflation fell to 2.1 percent.
Macro comment
Consumer prices in October: Higher food and clothing prices
Inflation remains under control. Although pockets of higher inflation in service prices are still lingering, price developments for most items in the consumer basket are moderate. The consumer price index rose by 0.5 percent month-on-month in October, with year-on-year inflation reaching 2.5 percent.
Macro comment
Unemployment in October: Slow rise
Autumn on the labor market is usually marked by a significant influx of new job seekers at employment offices in September and their gradual absorption in October and November. Therefore, unemployment usually falls in October. However, this year is different. The number of job seekers registered with employment offices rose from 337,925 in September to 340,509 at the end of October. The share of unemployed people in the population increased from 4.5 to 4.6 percent. Last October, it was 3.8 percent.
Macro comment
Retail in September: Sluggish growth in domestic demand
After inflation subsided, domestic demand recovered and began to rise again. However, momentum is now running out, and although retail sales have been growing in real terms for the last three months, the pace has been very slow. In September, retail turnover increased by 2.6 percent year-on-year.
Macro comment
CNB: Time of stable interest rates
At its November meeting, the Bank Board decided to leave interest rates unchanged. The main repo rate remains at 3.5%. The decision reflects the optimistic GDP forecast and existing inflation risks.
