Czech Economy Outlook: GDP growth to 3.0%, price growth to 8.5%

The Czech National Bank (CNB) has cut its GDP growth forecast for 2022 by 0.6 ppts to 3.0%. In 2023, the economy is expected to strengthen by 3.4%. At the same time, the central bank raised its inflation estimate. It now forecasts consumer price growth of 8.5% for 2022 and 2.3% for 2023. Average nominal wages are expected to rise by 6.6% and 5.3% respectively.

Prepared by the team of the foreign office of CzechTrade in The Hague

Source: Česká informační agentura, s.r.o. (ČIANEWS)