Czech producer price inflation accelerated at a faster-than-expected pace in June to the highest level in more than a year, figures from the Czech Statistical Office showed Thursday.
Industrial producer prices climbed 2.9 percent year-over-year in June, faster than the 1.5 percent rise in May. That was also above the 2.6 percent increase economists had forecast.
Moreover, this was the strongest PPI inflation since April 2017, when prices had grown 3.2 percent.
Among the main industrial groupings, prices of energy grew the most by 9.4 percent.
On a monthly basis, producer prices increased 0.6 percent in June.
Another report from the statistical office revealed that import prices decreased at a slower rate of 2.3 percent annually in May, following a 5.3 percent fall in April.
The fall of the total annual import price index was primarily driven by a 4.7 percent drop in ‘machinery and transport equipment’.
Similarly, export prices slid 1.5 percent year-over-year in May, after a 3.9 percent decline a month ago.