CNB Bank Board Member Miroslav Hrnčíř comments on the March 2000 inflation figures
10.4.2000
The CPI figures in March confirm the positive tendency towards stabilisation at a low level of
inflation. Contrary to our expectations, there was a considerable month-on-month fall of 0.6 % in
food prices in March, largely because of a decline in prices of vegetables and tropical fruit. This
fall, however, was matched by an expected sharp rise in prices in the transport group, which
includes fuel prices.
The inflation trend for the first three months of 2000 remains consistent with the CNB's
projections. It has been confirmed that the inflation risks on the demand side are not strong and
that food prices are being affected by a number of cost factors, in particular oil prices and their
gradual pass-through into other price groups.
CNB Bank Board Member Miroslav Hrnčíř comments on the March 2000 inflation figures
The CPI figures in March confirm the positive tendency towards stabilisation at a low level of inflation. Contrary to our expectations, there was a considerable month-on-month fall of 0.6 % in food prices in March, largely because of a decline in prices of vegetables and tropical fruit. This fall, however, was matched by an expected sharp rise in prices in the transport group, which includes fuel prices.
The inflation trend for the first three months of 2000 remains consistent with the CNB's projections. It has been confirmed that the inflation risks on the demand side are not strong and that food prices are being affected by a number of cost factors, in particular oil prices and their gradual pass-through into other price groups.
Responsible:
Milan Tománek
CNB spokesman