Consumer price indices - inflation - October 2020
Year-on-year price growth slowed down
Consumer prices in October increased by 0.2% compared with September. This development came primarily from price rise in 'food and non-alcoholic beverages' and in 'clothing and footwear', which was partially offset by price decrease in 'housing, water, electricity, gas and other fuels’. The year-on-year growth of consumer prices amounted to 2.9% in October, which was 0.3 percentage points down on September.
Month-on-month comparison
Price growth in ‘clothing and footwear’ came from higher prices of garments by 2.7% and shoes and other footwear by 3.3%. In 'food and non-alcoholic beverages', primarily prices of vegetables were higher by 6.6%, fruit by 1.5%, pork by 1.8% and yoghurts by 3.0%. In 'transport', mainly prices of motor cars went up by 0.9% and prices of automotive fuels and lubricants by 0.4%.
Both prices of goods in total and prices of services went up by 0.2%.
Consumer prices increased by 2.9% in October, i.e. 0.3 percentage points down on September. Slowdown in the year-on-year price growth occurred mainly in 'housing, water, electricity, gas and other fuels', where price growth of electricity decelerated to 4.8% (7.6% in September) and prices of natural gas turned from price rise by 0.4% in September into decline by 3.9% in October. In 'food and non-alcoholic beverages', price growth of meat slowed down to 4.7% (5.6% in September), fruit to 13.9% (20.6% in September), prices of sugar turned from rise by 17.4% in September into decline by 0.9% in October. The price drop of many kinds of food deepened. Prices of semi-skimmed UHT milk were lower by 8.2% in October (decrease by 5.5% in September), eggs by 4.4% (decrease by 0.4% in September) and potatoes by 18.5% (decrease by 10.4% in September). In 'alcoholic beverages, tobacco', price rise of spirits slowed down to 5.6% (8.5% in September), wine to 0.1% (2.1% in September) and beer to 4.2% (5.1% in September). Acceleration of year-on-year price rise occurred in 'transport', where prices of motor cars went up by 8.9% (7.7% in September).
Prices of goods in total and services went up (3.1% and 2.7%, respectively). The overall consumer price index excluding imputed rentals for housing was 103.1%, year-on-year.
According to preliminary calculations, the HICP in Czechia in October went up by 0.1%, month-on-month and 2.9%, year-on-year. According to flash estimates of Eurostat, the MUICP (Monetary Union Index of Consumer Prices) in October 2020 amounted to −0.3% year-on-year, in Slovakia, prices were higher by 1.7% in October and on the contrary in Germany, prices were lower by 0.5%. According to preliminary data of Eurostat, the year-on-year change in the average harmonized index of consumer prices (HICP) in the EU27 member states amounted to 0.2% in September (0.2 percentage point down on August). The rise in prices was the highest in Poland (3.8%) and the deepest price reduction occurred in Greece (−2.3%). In Slovakia, prices were higher by 1.4% and in Germany prices decreased by 0.4%.
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: 012018-20 Consumer Price Indices – Basic Breakdown (periodicity: monthly), 012023-20 Consumer price Indices – Detailed Breakdown (periodicity: monthly) and 012019-20 Consumer Price Indices – Detailed Breakdown (periodicity: annually)
Internet: https://www.czso.cz/csu/czso/inflation-consumer-prices
Next News Release: 10 December 2020
Text not edited for language
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Published: 10.11.2020
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