The Czech Republic experienced an unexpected rise in consumer price inflation in July, according to the Czech Statistical Office's latest report.
Year-over-year, consumer prices increased by 2.2 percent in July, compared to a 2.0 percent rise in June. Economists had predicted that inflation would hold steady at 2.0 percent.
Although the prices of food and non-alcoholic beverages continued to decline, they dropped by a lesser extent of 3.1 percent in July, compared to a 4.2 percent decrease in June.
Utility costs maintained a steady growth rate of 3.0 percent annually in July. In contrast, costs for recreation and culture saw accelerated growth, increasing by 3.3 percent. Additionally, transportation expenses rose by 3.7 percent.
On a month-to-month basis, consumer prices experienced a 0.7 percent increase in July.
