The CNB comments on the August 2002 inflation figures
9.9.2002
The consumer price index in August was broadly in line with the CNB's prediction stated in the
July situational report and did not bring any fundamental changes in the bank?s view on inflation
in the Czech economy. The relatively strong annual decline in food and fuel prices, brought about
by external and temporary domestic cost effects, is continuing. The weak growth in other prices
continues to be due to ongoing annual appreciation of the exchange rate, strong competition on the
market, particularly for tradables, and subdued growth in aggregate demand.
Responsible: Pavel Zúbek
CNB- Communication Division
The CNB comments on the August 2002 inflation figures
The consumer price index in August was broadly in line with the CNB's prediction stated in the July situational report and did not bring any fundamental changes in the bank?s view on inflation in the Czech economy. The relatively strong annual decline in food and fuel prices, brought about by external and temporary domestic cost effects, is continuing. The weak growth in other prices continues to be due to ongoing annual appreciation of the exchange rate, strong competition on the market, particularly for tradables, and subdued growth in aggregate demand.
Responsible:
Pavel Zúbek
CNB- Communication Division