Economic policy | Council on Czech Competitiveness

Economic policy / Macroeconomic Indicators, Economic Growth

This section reports on economic policy initiatives of the Czech government, the EU, and other entities that have a direct impact on the competitiveness of the country. It also includes information on economic priorities of the AmCham and other leading associations.

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Spotlight issue

15th April 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Core inflation in the Czech Republic decelerates

Year-on-year inflation is kept higher by rising gas station prices and rising tobacco prices due to higher excise duties. Nevertheless, inflation in March ended slightly below expectations and the positive deviation of inflation from the CNB forecast fell to 30 basis points. The central bank will continue to wait with rate hikes. The game-changer should be the vaccination of a significant part of the population.

13th April 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Czech inflation begins creeping higher on fuel prices

Czech inflation increased from 2.1% in February to 2.3% in March, mainly on the back of higher fuel prices, which increased by 6%. For the whole year, we expect average inflation of around 2.5%

8th April 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Production is weakening due to stifling components subcontracting

Industrial production accelerated its decline in February, negatively surprising analyst estimates. Orders are growing, but there are missing components for production and partial shortages of manpower. The foreign trade surplus fell in line with weaker industry. Unsurprisingly, construction remains subdued.