11.12.202309:59:00UTC+00Czech Inflation Eases To 7.3%

The Czech Republic's consumer price inflation eased in November after rising in the previous month, data from the Czech Statistical Office showed on Monday.

Consumer prices climbed 7.3 percent year-over-year in November, slower than the 8.5 percent rise in October. Economists had expected inflation to ease to 7.2 percent.

The overall strong inflation in November was largely driven by a 17.0 percent surge in utility costs, but the pace of growth has slowed from 19.6 percent in September.

Prices for food and non-alcoholic beverages grew 5.9 percent yearly in November versus a 3.7 percent spike a month ago, and those of clothing and footwear advanced 7.4 percent.

Meanwhile, transport costs dropped further by 2.3 percent in Novembeer amid a sharp fall in fuel prices.

On a monthly basis, consumer prices rose by 0.1 percent, while they were expected to decline by 0.4 percent.