Consumer prices rose by 17.5% y/y in January 2023, 1.7 bp higher
than in December 2022. The acceleration was mainly driven by
prices in the housing section, according to the Czech Statistical
Office. Electricity prices went from a 21.2% fall in December to
a 36.4% rise. Water prices accelerated the pace to 16.3%, sewerage
to 30.3%, and heat and hot water to 44.7%. Natural gas prices
moderated their rise to 87.0% from 140.2%. Residential rental prices
rose 6.1% and solid fuel prices rose 58.1%. Rice rose by 35.1%, flour
by 44.2%, pork by 36.8%, eggs by 85.0%, oils and fats by 31.5% and
sugar by 84.7%. Prices of food (+23.8%) and accommodation
services (+19.9%) were higher. Month-on-month inflation was
6.0%.
Source: CIA News
