CNB Vice-Governor Oldřich Dědek comments on consumer price inflation in January 2001
8.2.2001
Consumer price inflation in January was affected by expected changes in regulated prices. As
these changes were more extensive than in 2000, overall annual inflation saw a moderate rise from
4.0% in December 2000 to 4.2% in January 2001. Annual net inflation remained at the 3% level in
January. The slightly higher month-on-month increase in net inflation compared with the CNB's
prediction is the result of a faster-than-expected rise in food prices. In contrast, the price
growth was counteracted by a drop in prices in the transport category, reflecting an expected
decrease in fuel prices. Food prices excepted, the January figures confirmed a generally stabilised
price trend without any major signs of a pick-up in demand-pull and wage-cost inflation and without
any secondary effect from the external shock connected with past movements of prices for primary
energy resources.
Responsible: Pavel Zúbek
Public Relations Division
CNB Vice-Governor Oldřich Dědek comments on consumer price inflation in January 2001
Consumer price inflation in January was affected by expected changes in regulated prices. As these changes were more extensive than in 2000, overall annual inflation saw a moderate rise from 4.0% in December 2000 to 4.2% in January 2001. Annual net inflation remained at the 3% level in January. The slightly higher month-on-month increase in net inflation compared with the CNB's prediction is the result of a faster-than-expected rise in food prices. In contrast, the price growth was counteracted by a drop in prices in the transport category, reflecting an expected decrease in fuel prices. Food prices excepted, the January figures confirmed a generally stabilised price trend without any major signs of a pick-up in demand-pull and wage-cost inflation and without any secondary effect from the external shock connected with past movements of prices for primary energy resources.
Responsible:
Pavel Zúbek
Public Relations Division