The Czech Ministry of Finance (MF) has adjusted its GDP growth prediction for 2019 from 2.4% to 2.5%. The expected growth pace for 2020 decreased from 2.4% to 2.3%. In both years, economic growth should be driven by household consumption reflecting wage dynamics, a low unemployment rate, and increased old-age pensions. The MF increased its forecast of the average inflation rate for 2019 from 2.3% to 2.5%. The reviewed estimate for 2020 (from 1.6% to 2.2%) is based on an increased excise tax on tobacco and alcohol.