Prague, May 11, (dpa-AFX/GNA) – The Czech Republic’s consumer price inflation eased further in April to the lowest level in just over a year, largely due to a slowdown in the price growth of food items, though it still remained strong overall, data from the Czech Statistical Office showed on Thursday.
Consumer prices climbed 12.7% year-over-year in April, slower than the 15.0% rise in March. Economists had expected inflation to ease to 13.3%.
Further, this was the lowest inflation rate since March 2022, when prices had risen the same 12.7%.
The overall strong inflation in April was largely driven by a 17.6% surge in utility costs, but the pace of growth has slowed from 20.1% in March.
Prices for food and non-alcoholic beverages grew 17.3% yearly in April versus a 23.5% spike a month ago, and those of restaurants and hotels advanced 17.5%.
Meanwhile, transport costs dropped further by 1.7% in April amid a sharp fall in fuel prices.
On a monthly basis, consumer prices edged down 0.2%, while they were expected to rise by 0.4%.
GNA