The CNB comments on the July 2002 inflation figures
8.8.2002
The historical low of annual consumer price index in the Czech economy results from very low
regulated price inflation and at the same time extremely low prices of volatile items, e.g. food
and fuels. Other prices remain within the range of 2% and 3% annual growth. This trend was
bolstered by the continuing strong appreciation of the exchange rate in conditions of strong
competition on the market, particularly of tradables. Inflation developments in July were in
compliance with the CNB´s predictions from the previous month.
The CNB comments on the July 2002 inflation figures
The historical low of annual consumer price index in the Czech economy results from very low regulated price inflation and at the same time extremely low prices of volatile items, e.g. food and fuels. Other prices remain within the range of 2% and 3% annual growth. This trend was bolstered by the continuing strong appreciation of the exchange rate in conditions of strong competition on the market, particularly of tradables. Inflation developments in July were in compliance with the CNB´s predictions from the previous month.
Responsible:
Alice Frišaufová
CNB spokesperson