CNB Bank Board Member Miroslav Hrnčíř comments on the April 2000 inflation figures
10.5.2000
Price levels were again stable in April. The month-on-month indices of both consumer prices and
net inflation remained basically unchanged from March. In line with expectations, the lowering of
VAT did not feed through significantly into prices for hotel and restaurant services. Food prices
developed rather differently than expected, though, recording a sizeable month-on-month fall of
0.5%.
The inflation trend for the first four months of 2000 has so far confirmed the CNB's forecasts
that the inflation risks during the year are not considerable. The price movements are largely due
to pressures from some cost factors, particularly from abroad. However, these are passing through
into individual price groups with various time lags.
CNB Bank Board Member Miroslav Hrnčíř comments on the April 2000 inflation figures
Price levels were again stable in April. The month-on-month indices of both consumer prices and net inflation remained basically unchanged from March. In line with expectations, the lowering of VAT did not feed through significantly into prices for hotel and restaurant services. Food prices developed rather differently than expected, though, recording a sizeable month-on-month fall of 0.5%.
The inflation trend for the first four months of 2000 has so far confirmed the CNB's forecasts that the inflation risks during the year are not considerable. The price movements are largely due to pressures from some cost factors, particularly from abroad. However, these are passing through into individual price groups with various time lags.
Responsible:
Milan Tománek
CNB spokesman