Czech Inflation Slows To 15.0%, Lowest In 11 Months

(RTTNews) - The Czech Republic's consumer price inflation eased further in March to the lowest level in nearly a year, data from the Czech Statistical Office showed on Thursday.

Consumer prices climbed 15.0 percent year-over-year in March, slower than the 16.7 percent rise in February. Economists had expected inflation to ease to 14.9 percent.

The overall strong inflation in March was largely driven by a 23.5 percent surge in prices of food and non-alcoholic beverages. This was followed by a 20.1 percent gain in utility costs.

Meanwhile, transport costs dropped 0.6 percent in March amid a fall in prices of fuels.

"However, most of this slowdown came from the development of the last year's higher comparative base," Pavla Sediva, an economist at CZSO, said.

On a monthly basis, consumer prices edged up 0.1 percent, in line with expectations.