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Clothing prices lower by 1.6%
01
Sep '08
The month-on-month consumer price level increase by 0.5%. In 'recreation and culture', seasonal prices of package holidays increased by 13.1%, of which prices of domestic holidays by 5.5% and holidays abroad by 15.1%.

A downward effect on the consumer price level came from the price decrease in clothing by 1.5% and footwear by 2.7% due to summer sales of goods.

Prices of goods in total increased by 0.2%, while prices of services rose by 1.1%.

In terms of the year-on-year comparison, in July, the increase in consumer prices was 6.9%, i.e. 0.2 percentage point up on June. Prices of oil increased by 21.9% (from 23.9% in June).

Compared with 2007, prices of clothing were lower by 1.6%. Prices of goods in total grew by 6.2% and prices of services by 8.0%.

Inflation rate, i.e. the increase in the average consumer price index in the twelve months to July 2008 compared with the average CPI in the previous twelve months, stood at 5.8% in July (0.4 percentage point up compared with June 2008).

According to preliminary data of Eurostat, the year-on-year increase in the average harmonized index of consumer prices (HICP) in the EU 27 member states was 4.3% in June (0.3 p.p. up on May).

The highest annual rates were observed in Latvia (17.5%) and Bulgaria (14.7%), and the lowest rate in the Netherlands (2.3%). The growth of consumer prices in Slovakia accelerated to 4.3% in June (from 4.0% in May). In Germany, the price growth of consumer prices accelerated to 3.4% (from 3.1% in May).

According to preliminary calculations, the HICP in the Czech Republic in July 2008 increased by 0.5%, month-on-month, and accelerated to 6.8% (from 6.6% in June), year-on-year. The MUICP (Monetary Union Index of Consumer Prices) flash estimate for the Eurozone in July 2008 was 4.1%, y-o-y, as Eurostat announced (more information on Eurostat's web pages: HICP).

Czech Republic Statistical Office

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