CNB Board Member Miroslav Hrnčíř comments on the September inflation figures
9.10.2000
The data on consumer prices in September showed stabilisation of the price level. Following the
August results, suppression of the more substantial price movements from June and July has been
confirmed once again.
A closer look at the structure of price development testifies to the fact that the expected and
seasonally affected month-on-month increase in food prices was offset by a decline in adjusted
inflation, i.e. of non-food prices. This was due in particular to the one-time stronger decline in
prices in the leisure group. Overall, though, this development is conditioned by a favourable
competitive environment which prevents the pass-through of cost influences into price indices,
especially 'tradable items".
Therefore, the price trend witnessed to date does not give any grounds for revising the
forecasts for the end of 2000 as well as for the end of 2001.
Responsible: Pavel Palivec
Public Relations Division
CNB Board Member Miroslav Hrnčíř comments on the September inflation figures
The data on consumer prices in September showed stabilisation of the price level. Following the August results, suppression of the more substantial price movements from June and July has been confirmed once again.
A closer look at the structure of price development testifies to the fact that the expected and seasonally affected month-on-month increase in food prices was offset by a decline in adjusted inflation, i.e. of non-food prices. This was due in particular to the one-time stronger decline in prices in the leisure group. Overall, though, this development is conditioned by a favourable competitive environment which prevents the pass-through of cost influences into price indices, especially 'tradable items".
Therefore, the price trend witnessed to date does not give any grounds for revising the forecasts for the end of 2000 as well as for the end of 2001.
Responsible:
Pavel Palivec
Public Relations Division