CNB Vice-Governor Luděk Niedermayer comments on the November inflation figures
8.12.2000
The price trend in November confirmed that the rise in inflation in the second half of this year
was caused by rising prices of imports, most notably oil, and in part by fluctuations on specific
markets, for example the food market. No growth in prices generated by growth in demand is apparent
as yet. The unemployment figures are in keeping with the downward or stabilisation trend observed
for this indicator in the preceding months.
The new figures are in line with the CNB's expectations. The information does not lead to any
change in the economic outlook, which for the time being is proceeding in the direction of a
recovery without the generation of excessive inflationary pressures. Developments abroad, both in
the area of the boom and in prices of raw materials, as well as domestic developments in the wage
area, will be of fundamental importance in the period ahead.
The Bank Board will evaluate the aggregate information on the economy when it discusses the
situational report on 21 December.
CNB Vice-Governor Luděk Niedermayer comments on the November inflation figures
The price trend in November confirmed that the rise in inflation in the second half of this year was caused by rising prices of imports, most notably oil, and in part by fluctuations on specific markets, for example the food market. No growth in prices generated by growth in demand is apparent as yet. The unemployment figures are in keeping with the downward or stabilisation trend observed for this indicator in the preceding months.
The new figures are in line with the CNB's expectations. The information does not lead to any change in the economic outlook, which for the time being is proceeding in the direction of a recovery without the generation of excessive inflationary pressures. Developments abroad, both in the area of the boom and in prices of raw materials, as well as domestic developments in the wage area, will be of fundamental importance in the period ahead.
The Bank Board will evaluate the aggregate information on the economy when it discusses the situational report on 21 December.
Responsible:
Milan Tománek
CNB spokesman