CZECHIA: Preliminary Data Suggests Inflation Moderated To +2.5% Y/Y In August
Sep-04 07:52
- Preliminary data showed that Czechia's headline inflation decelerated to +2.5% Y/Y in August from +2.7% in the previous month, falling in line with expectations. In sequential terms, prices rose by 0.1% M/M last month. Goods inflation continued to constrain overall price growth, easing to +1.1% Y/Y from +1.4%, while services inflation remained elevated at +4.7% Y/Y versus +4.8% in July. The CZSO will release final CPI data on September 10, two weeks before the CNB's next monetary policy decision on September 24.
- The CNB's latest Financial Market Inflation Expectations survey pointed to 'a slightly higher expected rate of economic growth this year and next year'. Meanwhile, 'the one-year inflation forecast remains unchanged' but 'the average three-year inflation forecast increased slightly'. Respondents were unanimous in expecting the central bank to stand pat on rates this month, but the one-year rate path shifted higher. Still, surveyed analysts expect one more 25bp cut in this cycle by August 2026.
- A regional court in Brno said that the Stačilo! movement breached the law by forming an undeclared coalition for the upcoming parliamentary election, but refrained from invalidating the registration of the party's electoral lists, arguing that other parties are using similar tactics. The registration of a de facto coalition as a single party lowers the list's electoral threshold to 5% from 8% (for bipartisan coalitions) or 10% (for multi-party coalitions).
- Deník N reported that the Justice Ministry has reached settlement with two largest buyers of bitcoins donated by a convicted businessman. Separately, Justice Minister Eva Decroix asked auditors to investigate the role of Finance Minister Zbyněk Stanjura in the bitcoin scandal.
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