The inflation rate in the Czech Republic stood at 2 percent in December 2018, unchanged from the previous month's seven month low and slightly below market expectations of 2.1 percent. Upward pressure came from: housing & utilities (4 percent vs 3.9 percent); transport (1.6 percent vs 2.9 percent in November); alcoholic beverages, tobacco (2.8 percent vs 3.2 percent); recreation & culture (0.8 percent vs 0.4 percent); and miscellaneous goods & services (4.1 percent vs 4 percent). By contrast, food and non-alcoholic beverages continued to fall (-0.6 percent vs -1.2 percent). On a monthly basis, consumer prices edged up 0.1 percent in December as widely expected. In 2018, the average inflation rate was 2.1 percent, compared to 2.5 percent in 2017. Inflation Rate in Czech Republic averaged 4.31 percent from 1993 until 2018, reaching an all time high of 21.90 percent in February of 1993 and a record low of -0.40 percent in January of 2003.
Inflation Rate in Czech Republic is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Czech Republic to stand at 2.00 in 12 months time. In the long-term, the Czech Republic Inflation Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.