Analysis - Consumer price indices - 2 quarter
Consumer prices increased in Q2 2010 compared with Q1 2010 by 0.6%. The consumer price growth was contributed to primarily by raising prices in 'alcoholic beverages, tobacco', where an excise tax increase since January 2010 was shown with a delay. In 'clothing and footwear', the quarter-on-quarter rise in prices was caused by a smaller range of sales campaigns. In 'housing, water, electricity, gas and other fuels', prices of natural gas went up (they were increased in October 2008 for the last time). In 'health', prices and additional payments for medical products increased, particularly in April and May. In 'transport', the rise in prices of automotive fuel continued, even though with a more moderate rate.
Prices were lower compared with Q1 2010 primarily in 'recreation and culture' due to a permanent drop in prices of audio-visual, photographic and information processing equipment. In 'communications', a decrease in prices of mobile phones and telephone and telefax services continued similarly.
The average m-o-m growth rate in Q2 2010 was 0.1%, while in Q2 2009 it made up 0.0%.
In Q2 2010 compared to Q2 2009 consumer prices raised by 1.2%, y-o-y, which is by 0.5 p.p. more than in Q1 2010. This acceleration was contributed to mainly by the price development in 'alcoholic beverages, tobacco', 'housing, water, electricity, gas and other fuels', 'health' and 'food and non-alcoholic beverages'. The growth of market prices accelerated to 0.9% (from 0.6% in Q1) and administrative prices to 2.4% (from 0.9% in Q1).
Harmonized index of consumer prices in the EU27
The development of the year-on-year increase in the harmonized index of consumer prices (HICP) in the EU 27 member states and the Czech Republic was similar, actual values established in the Czech Republic were approximately by 1 p.p. lower.
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