CNB Vice-Governor Oldřich Dědek comments on the May 2001 inflation figures
8.6.2001
The May inflation figures were higher than the CNB's price expectations. For the second
consecutive month there was a partial acceleration in price growth, caused mainly however by the
typically volatile food item and also by continuing growth in energy prices. Excluding these
effects, the month-on-month growth does not deviate markedly from the customarily observed
seasonality. Based on this new information, the CNB is not changing its longer-term price outlook
for the time being. Only a more detailed analysis will indicate whether this is just a deviation
from the trend or a signal of a certain pick-up in price movement in the economy.
CNB Vice-Governor Oldřich Dědek comments on the May 2001 inflation figures
The May inflation figures were higher than the CNB's price expectations. For the second consecutive month there was a partial acceleration in price growth, caused mainly however by the typically volatile food item and also by continuing growth in energy prices. Excluding these effects, the month-on-month growth does not deviate markedly from the customarily observed seasonality. Based on this new information, the CNB is not changing its longer-term price outlook for the time being. Only a more detailed analysis will indicate whether this is just a deviation from the trend or a signal of a certain pick-up in price movement in the economy.
Responsible:
Alice Frišaufová
CNB Spokesperson