- I. Summary (xlsx, 126 kB)
- II. The forecast, its changes and risks
- II.1 Developments abroad and external assumptions of the forecast (xlsx, 325 kB)
- II.1.1 Economic developments abroad
- BOX 1 US protectionist measures and their impact on world trade (xlsx, 76 kB)
- II.1.2 Price developments abroad
- II.1.3 Financial developments abroad
- II.2 The forecast (xlsx, 324 kB)
- II.2.1 Inflation and monetary policy
- II.2.2 Costs and the labour market
- II.2.3 Economic activity
- II.2.4 The balance of payments
- II.2.5 Fiscal developments
- II.3 Comparison with the previous forecast (xlsx, 143 kB)
- II.4 Risks and uncertainties of the forecast (xlsx, 68 kB)
- II.4.1 Risks perceived by the CNB
- II.4.2 Risks signalled by other entities’ forecasts
- II.1 Developments abroad and external assumptions of the forecast (xlsx, 325 kB)
- III. Current economic developments
- III.1 Price developments (xlsx, 243 kB)
- III.1.1 Fulfilment of the inflation target
- III.1.2 Consumer prices and property prices
- III.1.3 Import prices and producer prices
- III.2 Economic developments (xlsx, 251 kB)
- III.2.1 The cyclical position of the economy
- III.2.2 The expenditure side of the economy
- III.2.3 The output side of the economy
- BOX 2 Margins and the price elasticity of aggregate supply (xlsx, 147 kB)
- III.3 The labour market (xlsx, 451 kB)
- III.3.1 Employment and unemployment
- BOX 3 Part-time employment as a phenomenon of recent years (xlsx, 267 kB)
- III.3.2 Wages and productivity
- III.4 Financial and monetary developments (xlsx, 742 kB)
- III.4.1 Monetary policy and interest rates
- III.4.2 The exchange rate
- III.4.3 Credit
- III.4.4 Money
- III.1 Price developments (xlsx, 243 kB)