Czech Inflation Confirmed At 1.6%, Lowest Since November 2016

(RTTNews) - The Czech Republic's consumer price inflation moderated as initially estimated in January to the lowest level in more than nine years, the latest data from the Czech Statistical Office showed on Friday.

Consumer prices climbed 1.6 percent year-over-year in January, slower than the 2.1 percent increase in December. That was in line with the flash data published on February 5.

Moreover, this was the weakest inflation rate since November 2016, when prices had risen 1.5 percent.

The annual price growth in housing and utilities eased to 0.1 percent from 0.8 percent, and the slowdown in inflation was influenced by a 2.6 percent fall in clothing and footwear prices. Inflation based on food and non-alcoholic beverages eased to 1.3 percent from 1.7 percent.

On a monthly basis, consumer prices moved up 0.9 percent, as estimated.