CNB forecast – Spring 2026
This forecast, which was prepared by economists from the Monetary Department, was published on 7 May 2026 and (with some exceptions) is based on the data available as of 24 April 2026.
| 2026 | 2027 | |
|---|---|---|
| Inflation (%) | 2.2 | 2.4 |
| Gross domestic product (annual changes in %) | 2.5 | 2.7 |
| 3M PRIBOR interest rates (%) | 3.8 | 3.6 |
| CZK/EUR exchange rate | 24.3 | 24.4 |
Note: Forecast in bold
More on the forecast
- Monetary Policy Report – Spring 2026 (to be published on 15 May 2026)
- Presentation for the CNB meeting with analysts (to be published on 11 May 2026)
- Chart data source – Spring 2026 (xlsx, 181 kB)
- Table of key macroeconomic indicators – Spring 2026 (to be published on 11 May 2026)
Inflation (in %)
Inflation in 2026 Q2 and at the monetary policy horizon
| April 2026 | May 2026 | June 2026 | 2027 Q2 | 2027 Q3 | |
|---|---|---|---|---|---|
| 2.4% | 2.1% | 2.1% | 2.4% | 2.1% |
Inflation will be close to 3% in late 2026 and early 2027 and return to near the target during 2027.
Gross domestic product (annual changes in %)
Growth in domestic economic activity will be below 3% this year and next year.
3M PRIBOR interest rates (in %)
Consistent with the forecast is a rise in short-term market interest rates in 2026 Q2. The forecast expects interest rates to decline again next year.
CZK/EUR Exchange rate
The koruna will be broadly stable over the outlook horizon.
