The CNB comments on the February 2003 inflation figures
10.3.2003
The month-on-month consumer price inflation of 0.2% in February 2003 is in line with the CNB's
January prediction. In year-on-year terms, consumer prices were down by 0.4% in February, the same
as in January. This is chiefly attributable to the excess supply on the strongly competitive
tradables market, the unwinding effect of external cost factors including the koruna exchange rate
in the last year, the extremely weak regulated price growth and weak inflation expectations
bolstered by past inflation developments. The CNB expects the renewed rise in annual inflation in
Q2 this year.
The CNB comments on the February 2003 inflation figures
The month-on-month consumer price inflation of 0.2% in February 2003 is in line with the CNB's January prediction. In year-on-year terms, consumer prices were down by 0.4% in February, the same as in January. This is chiefly attributable to the excess supply on the strongly competitive tradables market, the unwinding effect of external cost factors including the koruna exchange rate in the last year, the extremely weak regulated price growth and weak inflation expectations bolstered by past inflation developments. The CNB expects the renewed rise in annual inflation in Q2 this year.
Alice Frišaufová
CNB spokesperson