Consumer price indices - inflation - July 2018
Year-on-year growth of prices slowed down
The month-on-month increase in consumer prices in 'recreation and culture' came from higher seasonal prices of package holidays by 23.7%. In 'miscellaneous goods and services', prices of financial services increased by 2.4%. In 'food and non-alcoholic beverages', prices of butter went up by 4.2% in particular.
The decrease in the overall consumer price level in July was influenced especially by the price drop in 'food and non-alcoholic beverages'. Prices of vegetables were lower by 12.2%, of which potato prices by 22.7%. Prices of fruit dropped by 4.7%, non-alcoholic beverages by 1.7%, cheese and curd by 1.7%, sugar by 9.8%, eggs by 4.3%. In 'clothing and footwear', prices of garments and prices of shoes and other footwear declined (−2.6% and −2.9%, respectively).
Prices of goods in total went down by 0.6%, while prices of services went up by 1.6%.
The biggest influence on the growth of the y-o-y price level in July came, as before, from prices in 'housing, water, electricity, gas and other fuels', where prices of actual rentals for housing rose by 3.2%, water supply by 1.8%, sewage collection by 1.3%, electricity by 5.1%. Next in order of influence were prices in 'transport', where prices of fuels and lubricants for personal transport equipment went up by 12.6%, year-on-year. The increase in the price level came also from prices in 'recreation and culture' (a growth by 3.1%) and prices in 'alcoholic beverages and tobacco', where prices of spirits rose by 2.8%, wine by 2.1%, beer by 1.2%, and tobacco products by 3.6%.
A reduction in the price level in July came from prices in 'clothing and footwear' (a drop by 1.3%). In 'communication', prices of telephone and telefax services dropped by 1.5% in particular. In 'food and non-alcoholic beverages', prices went down by 0.1%, year-on-year. In 'housing, water, electricity, gas and other fuels', prices of natural gas decreased by 0.8% and prices of heat and hot water by 0.2%.
According to preliminary data of Eurostat, the year-on-year change in the average harmonized index of consumer prices (HICP)1) in the EU28 member states amounted to 2.0% in June, i.e. the same as in May. The rise in prices was the highest in Romania (4.7%) and the lowest price increase was in Ireland (0.7%). In Slovakia, the price rise accelerated to 2.9% in June (2.7% in May). In Germany, prices were higher by 2.1% (2.2% in May). According to preliminary calculations, the HICP in the Czech Republic in July rose by 0.2%, month-on-month, and by 2.2%, year-on-year. The MUICP (Monetary Union Index of Consumer Prices) flash estimate for the Eurozone in July 2018 amounted to 2.1%, y-o-y, as Eurostat announced (more information on the Eurostat’s web pages: HICP.)
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1) Imputed rentals are excluded from the HICP.
Notes:
Responsible manager of the CZSO: Jiri Mrazek, Director of Price Statistics Department, email: jiri.mrazek@czso.cz
Contact: Pavla Sediva, Head of the Consumer Price Statistics Unit, phone (+420) 274052138, email: pavla.sediva@czso.cz
Data source: Direct field survey of prices, centrally surveyed prices and reporting
End of data collection: 20th day of the reference month / End of data processing: 3rd day of the month that follows the reference month
Related publications: 012018-18 Consumer Price Indices – Basic Breakdown (periodicity: monthly), 012023-18 Consumer price Indices – Detailed Breakdown (periodicity: monthly) and 012019-18 Consumer Price Indices – Detailed Breakdown (periodicity: annually)
Internet: https://www.czso.cz/csu/czso/inflation-consumer-prices
Next News Release: 10 September 2018
Text not edited for language
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Published: 09.08.2018
The data are valid as of the release date of the publication.
Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz