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Czech economy to slip into deflation this year
http://www.praguepost.com/economy/44207-czech-economy-to-slip-into-deflation-this-year
Negative inflation rate would be first in Czech history, inflation expected to return in 2016
Czech economy to slip into deflation this year
Category: Economy
Published: 06 February 2015
Written by Czech News Agency
Prague, Feb 6 (CTK) — The Czech economy will be in annual deflation this year for the first time in the history of the CzechRepublic as the average annual inflation rate will be minus 0.1 percent, the Czech National Bank (ČNB) said in its Inflation Report published today.
Next year the average inflation should reach 1.8 percent, according to the ČNB's estimates.
“The overall upward pressures on consumer prices will almost disappear in the near term, as a decline in producer prices in the euro area coupled with a fall in global prices of energy commodities will result in a substantial decrease in costs stemming from import prices,” the ČNB said.
“The anti-inflationary effect of import prices will subside at the start of 2016,” the central bank said.