Inflation is approaching 5%. In September, it climbed to 4.9 percent

“Domestic price increases continue on all fronts, which at least makes it easier to identify its causes – everything belongs to them,” said Raiffeisenbank analyst Vít Hradil. “Even in the foreseeable future, there is not much to bet on calming the situation. Adjustments to the price lists of large energy suppliers will only become more pronounced in inflation statistics in the coming months, and prices will probably continue to rise in the case of scarce cars, “he added.

Inflation is thus moving further away from its tolerance band. “Therefore, we can expect another reaction from the Czech National Bank, which will probably continue to raise interest rates. This will slow down the economic growth of the Czech Republic, “expects Štěpán Křeček, chief economist at BHS.

The Bernard family brewery is also becoming more expensive, as it is also responding to cost increases in all stages, both in terms of raw materials and energy, fuel and wages. “As we announced a few weeks ago, after three long years we have adjusted the price of draft beer. The average price increase is about 1 crown per pint of draft beer. This price already includes VAT and the margin of the distribution chain. The new prices are valid from Monday. The price increase will be reflected in the final price for the end customer and will depend on the decision of each individual establishment.

Agrofert is also likely to be more expensive. The spokesman of the concern, Karel Hanzelka, announced this today. About how many and what products he did not state. The largest increase in prices is within the group in chemical factories, where nitrogen fertilizers are produced.

Savencia, which specializes in cheese and dairy products and employs more than 900 people, is also planning to raise prices. “The rise in the prices of energy, raw materials, fuels and packaging in our industry is picking up the pace we knew more from the inflationary hyperspirals of the subversive countries of equatorial Africa. On the one hand, we are talking about input prices and minimizing their increase. However, for our key commodities alone, this makes tens of millions of crowns for next year. In many cases, moreover, it is difficult to secure the raw material at all. On the other hand, under the pressure of retail chains and competition, it is practically impossible to simply reflect the price increases of all inputs in the prices of our products. So we are looking for savings and ways to produce more efficiently. But that’s not enough, so we will be forced to raise prices, “says Aleš Malenka, CEO of Savencia.

Consumer prices rose by 0.2 percent month on month, although inflation usually fell slightly in September. Compared to August, prices of electricity, clothing, tobacco and cars, for example, rose. Ten months in a row, fuel prices become more expensive. Fees in kindergartens or tuition fees at private grammar schools and secondary private schools were also higher. On the contrary, due to the end of the summer season, prices for recreation fell by a fifth. Compared to August, the prices of vegetables, especially potatoes, were lower. The kilogram sold for 12.12 crowns in September, which was the lowest since last November.

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Inflation. It has become the most expensive in the last 13 years

Statistics also published the development of prices in imports and exports for August. “In August 2021, year-on-year prices rose sharply, in exports by 8.6 percent and in imports by 9.4 percent. The trend of significant year-on-year growth in the prices of mineral fuels and other raw materials continued. In the month-on-month and year-on-year comparison, the prices of iron, steel and wood in particular increased, “said Vladimír Klimeš, Head of the CZSO Industry and Foreign Trade Statistics Statistics Department. Month-on-month, export prices fell by 0.3 percent and import prices rose by 0.3 percent.



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