The CNB comments on the April 2003 inflation figures
12.5.2003
The monthly consumer price inflation of 0.2% recorded in April is entirely in line with the
estimate contained in the CNB's fourth situational report issued in April of this year. In annual
terms, the decline in consumer prices slowed to 0.1%, compared to the annual decreases of 0.4% seen
in the first three months of the year.
The current low-inflation environment is due primarily to excess supply on the strongly
competitive tradables market, the lingering influence of external cost factors (including the
exchange rate last year), continuing low growth in regulated prices, and weak inflation
expectations (fostered by the past inflation profile).
The CNB expects an upturn in annual inflation in the second quarter of this year.
The CNB comments on the April 2003 inflation figures
The monthly consumer price inflation of 0.2% recorded in April is entirely in line with the estimate contained in the CNB's fourth situational report issued in April of this year. In annual terms, the decline in consumer prices slowed to 0.1%, compared to the annual decreases of 0.4% seen in the first three months of the year.
The current low-inflation environment is due primarily to excess supply on the strongly competitive tradables market, the lingering influence of external cost factors (including the exchange rate last year), continuing low growth in regulated prices, and weak inflation expectations (fostered by the past inflation profile).
The CNB expects an upturn in annual inflation in the second quarter of this year.
Alice Frišaufová
CNB spokesperson