The CNB comments on the December 2003 inflation figures
9.1.2004
The Czech Statistical Office today released the consumer price inflation figures for December.
Month-on month inflation was 0.1 percentage point higher than predicted by the CNB. The deviation
almost exclusively reflects the evolution of non-food market prices excluding fuel prices. These
prices were flat and so their month-on-month inflation was slightly lower than forecast in October.
Food prices increased in December in line with the forecast, as did the other sub-categories of the
consumer basket.
The CNB continues to expect annual consumer price inflation to pick up at the beginning of 2004.
It will be affected primarily by the one-off impact of changes to indirect taxes and growth in
regulated prices.
The CNB comments on the December 2003 inflation figures
The Czech Statistical Office today released the consumer price inflation figures for December. Month-on month inflation was 0.1 percentage point higher than predicted by the CNB. The deviation almost exclusively reflects the evolution of non-food market prices excluding fuel prices. These prices were flat and so their month-on-month inflation was slightly lower than forecast in October. Food prices increased in December in line with the forecast, as did the other sub-categories of the consumer basket.
The CNB continues to expect annual consumer price inflation to pick up at the beginning of 2004. It will be affected primarily by the one-off impact of changes to indirect taxes and growth in regulated prices.
Pavel Zúbek
CNB communications division