Czech inflation at 10.2% double the eurozone’s

(CIANEWS) - In July, the HICP year-on-year inflation in the Czech Republic dropped from 11.2% to 10.2%. According to Eurostat, it was the fourth highest in the EU. Slovakia’s and Poland’s were at 10.3%, while Hungary posted the highest, at 17.5%. German inflation totalled 6.5%. The average inflation rate was 6.1% in the EU and 5.3% in the eurozone. Banka Creditas chief economist Petr Dufek stated that inflation in the eurozone may be dropping, but its core component was not giving the European Central Bank any joy. It stopped at 5.5%. Together with prices of services increasing by 5.6%, this is an argument in favour of another increase in ECB rates, despite the otherwise weak figures from the real economy.



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