The CNB comments on the April 2006 inflation figures
Inflation in line with CNB forecast
According to figures released today, annual inflation reached 2.8% in April. Inflation was thus
standing at this level close to the CNB's target of 3% for the third consecutive month.
In month-on-month comparison, the price level increased by 0.1 percentage point. This modest
increase was due to rising prices of energy-producing raw materials represented in the consumer
basket chiefly by fuels, natural gas and heating. Another contribution to this pick-up in consumer
price inflation came from a slight increase in food prices.
Both the level and structure of annual inflation were consistent with the CNB's April forecast.
The deviations in all forecasted price categories (regulated prices, changes in indirect taxes,
food prices, adjusted inflation excluding fuels and fuel prices) were negligible and their impacts
on headline inflation were in the order of hundredths of a percentage point. Overall, then, it can
be said that inflation in April was in line with the April forecast and did not signal any sizeable
demand-pull inflationary pressures.
Petr Vojtíšek, Deputy Executive Director, Monetary and Statistics Department
The CNB comments on the April 2006 inflation figures
Inflation in line with CNB forecast
According to figures released today, annual inflation reached 2.8% in April. Inflation was thus standing at this level close to the CNB's target of 3% for the third consecutive month.
In month-on-month comparison, the price level increased by 0.1 percentage point. This modest increase was due to rising prices of energy-producing raw materials represented in the consumer basket chiefly by fuels, natural gas and heating. Another contribution to this pick-up in consumer price inflation came from a slight increase in food prices.
Both the level and structure of annual inflation were consistent with the CNB's April forecast. The deviations in all forecasted price categories (regulated prices, changes in indirect taxes, food prices, adjusted inflation excluding fuels and fuel prices) were negligible and their impacts on headline inflation were in the order of hundredths of a percentage point. Overall, then, it can be said that inflation in April was in line with the April forecast and did not signal any sizeable demand-pull inflationary pressures.
Petr Vojtíšek, Deputy Executive Director, Monetary and Statistics Department