According to data from the Czech Statistical Office (CSO), the annual inflation rate in December was 15.8%. This is 0.4 percentage points lower than the rate in November, which was 16.2%. Additionally, consumer prices remained the same on a month-over-month basis compared to November.

Over the course of the entire year 2022, the average inflation rate was 15.1%. This is the second highest average inflation rate since the establishment of the independent Czech Republic, with the highest being 20.8% in 1993. Prices of goods rose by 16.8% in 2022, and services by 12.3% according to Pavla Šedivá, head of the consumer price statistics department of the Czech Statistical Office. Government measures to curb energy prices had an impact on the December data.

Article by Prague Forum