Czechia Consumer Inflation Rises to 1.7 Percent in July

The Czech Statistical Office reported that consumer price inflation in Czechia rose to 1.7 percent year-over-year in July. This marks an increase from the four-month low of 1.5 percent recorded in June. The uptick was primarily driven by services inflation, which climbed to 4.7 percent, and a slowing decline in energy costs. On a monthly basis, prices increased by 0.6 percent.

Economic data released Wednesday also highlighted a slowdown in consumer activity. Retail sales growth for June rose 3.6 percent year-over-year, a decrease from the 4.8 percent growth seen in May. This cooling trend extended to specific sectors, as non-food product sales growth softened to 2.1 percent and non-food items slowed to 5.4 percent.