Consumer price indices - inflation - February 2021

Consumer prices increased moderately, month-on-month

10.03.2021
Code: 012024-21
 

Consumer prices in February increased by 0.2% compared with January. This development came primarily from price rise in 'transport'. The year-on-year growth of consumer prices amounted to 2.1% in February, which was 0.1 percentage points down on January.
 

Month-on-month comparison

Price increase in 'transport' came mainly from higher prices of automotive fuels and lubricants by 1.7% and motor cars by 0.9%. In food, especially prices of vegetables increased by 5.2%, of which prices of potatoes were higher by 8.4%. Prices of fruit went up by 4.0%, margarine and other vegetable fats by 10.3% and smoked meat and sausages by 0.9%, month-on-month.

Month-on-month decrease in the overall consumer price level in February came primarily from price decline in 'alcoholic beverages, tobacco', where prices of spirits were lower by 3.8% and wine by 2.0%. In 'food and non-alcoholic beverages', prices of pork were lower by 4.9%, eggs by 8.7%, poultry by 2.0% and non-alcoholic beverages by 0.9%.

Prices of goods in total went up by 0.1% and prices of services by 0.3%.
 

Year-on-year comparison

Consumer prices increased by 2.1% in February, i.e. 0.1 percentage points down on January. Year-on-year growth of consumer prices therefore moderately slowed down for the seventh consecutive month. In 'furnishings, household equipment and routine household maintenance', price rise of household appliances slowed down to 1.6% (3.0% in January) and prices of goods and services for routine household maintenance turned from price growth by 3.0% in January into decline by 0.9% in February. In 'clothing and footwear’, prices of garments were higher by 2.4% (4.2% in January) and shoes and other footwear by 2.7% (3.8% in January). On the other hand, acceleration of year-on-year price growth occurred in 'alcoholic beverages, tobacco', where prices of wine turned from drop by 0.8% in January into rise by 3.9% in February and prices of beer increased by 9.2% (3.6% in January).

The biggest influence on the growth of the year-on-year price level in February came again from prices in 'alcoholic beverages, tobacco' (increase by 10.5%). In 'housing, water, electricity, gas and other fuels', prices of actual rentals went up by 1.1%, water supply by 1.9%, sewage collection by 2.3%. Prices of electricity decreased by 1.8% and natural gas by 4.7%. In 'miscellaneous goods and services', prices of insurance increased by 2.3% and financial services by 6.8%. A reduction in the overall price level in February came from prices in 'communication' (decrease by 1.2%).

Prices of goods in total and services went up (2.1% and 2.3%, respectively). The overall consumer price index excluding imputed rentals for housing was 102.1%, year-on-year.

Inflation rate, i.e. the increase in the average consumer price index in the twelve months to February 2021 compared with the average CPI in the previous twelve months, amounted to 2.9%.
 

Harmonized index of consumer prices (HICP) 1)

According to preliminary calculations, the HICP in Czechia in February went up by 0.2%, month-on-month and 2.1%, year-on-year. According to flash estimates of Eurostat, the MUICP (Monetary Union Index of Consumer Prices) in February 2021 amounted to 0.9% year-on-year (as in January). In Slovakia, prices were higher by 0.9% in February and in Germany by 1.6%, year-on-year. 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 1.2% in January (1.0 percentage point up on December). The rise in prices was the highest in Poland (3.6%) and the deepest price reduction occurred in Greece (−2.4%). In Slovakia, prices were higher by 0.7% and in Germany by 1.6%.

(More information on the Eurostat’s web pages: HICP.)

Methodological note to consumer price index in February 2021 (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: 012018-21 Consumer Price Indices – Basic Breakdown (periodicity: monthly), 012023-21 Consumer price Indices – Detailed Breakdown (periodicity: monthly) and 012019-21 Consumer Price Indices – Detailed Breakdown (periodicity: annually)
Internet: https://www.czso.cz/csu/czso/inflation-consumer-prices
Next News Release: 13 April 2021
Text not edited for language

 

  •      aisc031021.docx
  • Annexes:
  • Table 1 Consumer Price Index (indices, inflation rate)
  • Table 2 Consumer Price Index (breakdown of the growth month-on-month)
  • Table 3 Consumer Price Index (breakdown of the growth – month-on-month, year-on-year)
  • Table 4 Consumer Price Index (social groups of households – indices, inflation rate)
  • Table 5 Consumer Price Index (analytical table, specific consumer price indices)
  • Chart 1 Consumer Price Index (year-on-year changes, changes on base year)
  • Chart 2 Harmonized Index of Consumer Prices – International comparison
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Published: 10.03.2021
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