CNB forecast – Autumn 2026
This forecast, which was prepared by economists from the Monetary Department, was published on 5 November 2026 and (with some exceptions) is based on the data available as of 23 October 2026.
| 2026 | 2027 | 2028 | |
|---|---|---|---|
| Inflation (%) | 2.1 | 3.2 | 2.3 |
| Gross domestic product (annual changes in %) | 1.7 | 2.5 | 2.5 |
| 3M PRIBOR interest rates (%) | 3.9 | 4.1 | 3.6 |
| CZK/EUR exchange rate | 24.3 | 24.3 | 24.2 |
Note: Forecast in bold
More on the forecast
- Monetary Policy Report – Autumn 2026 (to be published on 13 November 2026)
- Presentation for the CNB meeting with analysts (to be published on 6 November 2026)
- Chart data source – Autumn 2026 (xlsx, 152 kB)
- Table of key macroeconomic indicators – Autumn 2026 (to be published on 6 November 2026)
Inflation (in %)
Inflation in 2026 Q4 and at the monetary policy horizon
| October 2026 | November 2026 | December 2026 | 2027 Q4 | 2028 Q1 | |
|---|---|---|---|---|---|
| 2.3% | 2.7% | 2.9% | 2.7% | 2.3% |
Inflation will be above 3% for most of next year and return to close to the 2% target during 2028.
Gross domestic product (annual changes in %)
The growth of the domestic economy will dip below 2% this year and reach 2.5% in each of the following two years.
3M PRIBOR interest rates (in %)
Consistent with the forecast is a rise in short-term market interest rates.
CZK/EUR Exchange rate
The koruna will be stable over the outlook horizon.
