Consumer price indices - inflation - September 2020
Food prices fell moderately again, month-on-month
Consumer prices in September decreased by 0.6% compared with August. This development came primarily from price drop in 'recreation and culture' and in 'food and non-alcoholic beverages'. The year-on-year growth of consumer prices amounted to 3.2% in September, which was 0.1 percentage points down on August.
Month-on-month comparison
The decrease in the overall consumer price level in September came mainly from prices in 'recreation and culture', where prices of package holidays went down by 21.6% due to the end of summer season. In 'food and non-alcoholic beverages', primarily prices of vegetables were lower by 4.1%, of which prices of potatoes dropped by 9.3% and reached value CZK 13.44 per kg. It was the lowest value since September 2018. Prices of fruit decreased by 3.5%, non-alcoholic beverages by 2.6%, eggs by 5.2% and semi-skimmed UHT milk by 3.5%.
Consumer prices increased by 3.2% in September, i.e. 0.1 percentage points down on August. In 'food and non-alcoholic beverages', price growth of meat decelerated to 5.6% (6.0% in August), cheese and curd to 2.4% (3.7% in August), fruit to 20.6% (22.4% in August). Prices of semi-skimmed UHT milk were lower by 5.5% (decrease by 0.9% in August) and prices of eggs turned from rise by 6.9% in August to decline by 0.4% in September. In 'housing, water, electricity, gas and other fuels', year-on-year price rise of actual rentals for housing slowed down to 2.0% (2.6% in August). Acceleration of year-on-year price rise occurred in 'alcoholic beverages, tobacco', where prices of beer increased by 5.1% (3.7% in August) and prices of wine turned from decline by 0.2% in August into rise by 2.1% in September.
According to preliminary data of Eurostat, the year-on-year change in the average harmonized index of consumer prices (HICP)1) in the EU27 member states amounted to 0.4% in August (0.4 percentage point down on July). The rise in prices was the highest in Hungary (4.0%) and Poland (3.7%). On the other hand, price reduction occurred in 13 EU countries, the deepest in Cyprus (−2.9%) and in Greece (−2.3%). In Slovakia, prices were higher by 1.4% year-on-year (1.8% in July). In Germany, prices decreased by 0.1% in August (year-on year price change 0.0% in July). According to preliminary calculations, the HICP in the Czech Republic in September went down by 0.6% month-on-month and rose by 3.3%, year-on-year. The MUICP (Monetary Union Index of Consumer Prices) flash estimate for the Eurozone in September 2020 amounted to −0.3%, y‑o‑y, as Eurostat announced (more information on the Eurostat’s web pages: HICP.)
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 November 2020
Text not edited for language
Related analysis: Analysis - Consumer price indices - 3rd quarter of 2020
Attachments
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Annexes:
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Published: 12.10.2020
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