Consumer price indices - inflation - December 2020
Average inflation rate stood at 3.2% in 2020
Consumer prices in December decreased by 0.2% compared with November. This development came primarily from price decline in 'food and non-alcoholic beverages'. The year-on-year growth of consumer prices amounted to 2.3% in December, which was 0.4 percentage points down on November. It was the lowest year-on-year price growth since December 2018. The average inflation rate for 2020 as a whole was 3.2%.
Month-on-month comparison
Price decrease in 'food and non-alcoholic beverages' came mainly from lower prices of vegetables by 9.4%. Prices of yoghurts went down by 5.8%, pork by 1.3%, eggs by 3.5%, cheese and curd by 0.8%. In 'clothing and footwear', prices of garments were lower by 1.8%.
Month-on-month increase in the overall consumer price level in December came from price rise in 'alcoholic beverages, tobacco’, where prices of tobacco products were higher by 1.5% and spirits by 0.9%. In 'transport', prices of automotive fuels and lubricants increased by 0.9%. In food, mainly prices of potatoes were higher by 5.0% and UHT semi-skimmed milk by 2.5%.
Consumer prices increased by 2.3% in December, i.e. 0.4 percentage points down on November. This slowdown in the year-on-year price growth came mainly from prices in 'food and non-alcoholic beverages'. Prices of vegetables turned from growth by 6.8% in November into decline by 7.2% in December, prices of pork were lower by 6.8% (decrease by 2.6% in November), eggs by 5.2% (decrease by 1.2% in November), sugar by 1.8% (decrease by 0.6% in November). In 'clothing and footwear’, prise rise of garments slowed down to 2.4% (4.3% in November). Deceleration of year-on-year price rise occurred in 'housing, water, electricity, gas and other fuels', due to prices of electricity, which were higher by 2.5% in December (3.3% in November). In 'alcoholic beverages and tobacco' price rise of spirits accelerated to 5.4% (3.3% in November) and tobacco products to 16.4% (14.8% in November).
The biggest influence on the growth of the year-on-year price level in December came, as before, from prices in 'alcoholic beverages and tobacco' (increase by 10.7%). Next in order of influence were prices in 'housing, water, electricity, gas and other fuels’, where prices of actual rentals were higher by 2.0%, water supply by 1.7%, sewage collection by 1.5%. Prices of natural gas were lower by 3.9%, year-on-year. In 'restaurants and hotels', prices of catering services increased by 4.7%. A reduction in the overall price level in December came from prices in 'food and non-alcoholic beverages' (decrease by 0.1%) and 'communications' (decrease by 1.2%).
Prices of goods in total and services went up (2.0% and 2.8%, respectively). The overall consumer price index excluding imputed rentals for housing was 102.4%, year-on-year.
(A summary of the development of the consumer price index in 2020 is a part of the Q4 analysis, which is released at the same time.)
According to preliminary calculations, the HICP in the Czech Republic in December went down by 0.2%, month-on-month and went up by 2.4%, year-on-year. According to flash estimates of Eurostat, the MUICP (Monetary Union Index of Consumer Prices) in December 2020 amounted to −0.3% year-on-year (as in November). In Slovakia, prices were higher by 1.6% in December and on the other hand in Germany, prices were lower by 0.7%. 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 November (as in October). The rise in prices was the highest in Poland (3.7%) and the deepest price reduction occurred in Greece (−2.1%). In Slovakia, prices were higher by 1.6% and in Germany prices decreased by 0.7%.
(More information on the Eurostat’s web pages: HICP.)
Methodological note to consumer price index in December 2020 (COVID-19)
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: 12 February 2021
Text not edited for language
Related analysis: Analysis - Consumer price indices - 4th quarter of 2020
Attachments
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Annexes:
- year 2024 | March 2024 | February 2024 | January 2024
- year 2023 | December 2023 | November 2023 | October 2023 | September 2023 | August 2023 | July 2023 | June 2023 | May 2023 | April 2023 | March 2023 | February 2023 | January 2023
- year 2022 | December 2022 | November 2022 | October 2022 | September 2022 | August 2022 | July 2022 | June 2022 | May 2022 | April 2022 | March 2022 | February 2022 | January 2022
- year 2021 | December 2021 | November 2021 | October 2021 | September 2021 | August 2021 | July 2021 | June 2021 | May 2021 | April 2021 | March 2021 | February 2021 | January 2021
- year 2020 | December 2020 | November 2020 | October 2020 | September 2020 | August 2020 | July 2020 | June 2020 | May 2020 | April 2020 | March 2020 | February 2020 | January 2020
- year 2019 | December 2019 | November 2019 | October 2019 | September 2019 | August 2019 | July 2019 | June 2019 | May 2019 | April 2019 | March 2019 | February 2019 | January 2019
- year 2018 | December 2018 | November 2018 | October 2018 | September 2018 | August 2018 | July 2018 | June 2018 | May 2018 | April 2018 | March 2018 | February 2018 | January 2018
- year 2017 | December 2017 | November 2017 | October 2017 | September 2017 | August 2017 | July 2017 | June 2017 | May 2017 | April 2017 | March 2017 | February 2017 | January 2017
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- year 2013 | December 2013 | November 2013 | October 2013 | September 2013 | August 2013 | July 2013 | June 2013 | May 2013 | April 2013 | March 2013 | February 2013 | January 2013
- year 2012 | December 2012 | November 2012 | October 2012 | September 2012 | August 2012 | July 2012 | June 2012 | May 2012 | April 2012 | March 2012 | February 2012 | January 2012
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Published: 13.01.2021
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