Economic policy

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.

Spotlight issue

16th March 2022 / Economic policy / Macroeconomic Indicators, Economic Growth


Czech inflation rose to 11.1% yoy in February

In February, Czech consumer prices increased by a further 1.3% mom. After seasonal adjustments, monthly price dynamics slowed from a significant 2.9% rise in January to 1.2% in February. Housing-related costs (contribution: 0.5pp), supported by continued growth in energy prices, and food (contribution: 0.3pp) were the main drivers of the 1.3% mom inflation. Imputed rents rose by 0.6% mom and food prices (excluding alcohol and tobacco) by 1.4% mom. However, prices also continued to grow in other categories of goods and services, such as transport due to higher fuel prices, so the inflation remained broad-based. Goods prices increased by 1.4% mom and prices in services by 1.0%.
View more

8th March 2022 / Economic policy / Macroeconomic Indicators, Economic Growth


AmCham held regular Macro Intel session with Czech National Bank

Inflation is popping out of the Czech National Bank's target band. Employee expectations are exceeding the wage increases expected and budgeted by employers. The housing market is hurtling ever higher. The danger is that one feeds the other two, and the complex system of the economy begins to hyperventilate as price rises feed wage rises that feed back into price rises.
View more

3rd March 2022 / Economic policy / Macroeconomic Indicators, Economic Growth


Elevated inflation weighs on Czech household consumption

According to the refined estimate, Czech GDP grew by 0.9% qoq in 4Q21. This is fully in line with the earlier preliminary estimate. In year-on-year terms, economic growth accelerated from 3.5% in 3Q to 3.6% in 4Q. However, compared to the pre-crisis fourth quarter of 2019, the level of economic activity was still 1.9% lower.
View more

Members of the American Chamber of Commerce in the Czech Republic