Czechs now prefer expensive purchases. Retailers’ sales have fallen for the seventh month in a row

People are buying less and less. They are limiting their spending more significantly than during the pandemic, when many shops were closed or access to them was difficult. November retail sales fell for the seventh month in a row, according to statistics data. The Czechs mostly dampened food purchases, on the contrary, sales of cosmetic … Read more

Banks are raising interest rates on savings accounts. The growth was announced by Česká spořitelna, Trinity Bank and Air Bank

“The CNB unexpectedly raised interest rates sharply and this is the most significant one-off increase in interest rates since June 1997, which opens up room for banks to significantly increase interest rates on client deposits,” comments Lukáš Kovanda, a member of the government’s National Economic Council and chief economist at Trinity Bank. Trinity Bank raises … Read more

Gas has risen by ninety percent, Czechs are afraid of expensive winters

“We are monitoring the situation closely and we have prepared various reaction scenarios according to the development. This is partly due to the fact that due to higher gas consumption in the first quarter, we had to buy gas for customers at higher prices than in the past, while we did not change sales prices, … Read more

Price drama at sea. The transport of goods has become six times more expensive since the winter, the old days will not return

Global shipping tensions peaked at the end of the holidays, when prices have risen the highest since 2010. At the same time, they continue to rise, literally from hour to hour. “Interest in goods from Asia is currently extreme, but there is little free capacity. There has been a large increase in the price of … Read more

The housing market is overheated, the latest figures show. Price growth is one of the fastest in the EU

Year-on-year growth in house and apartment prices in the Czech Republic accelerated to 11.9 percent in the first quarter, while prices rose by 8.9 percent a quarter earlier. Among the countries of the European Union, growth was the fourth highest, as at the end of last year. Compared to the last quarter of 2020, prices … Read more

Commodity prices have risen too high. The world began to shield them

“Commodity markets reacted with a decline, especially to the Fed’s statement in June about the earlier tightening of monetary policy. This caused the strengthening of the US dollar and literally washed away in many commodity markets, “says Václav Kučera, an analyst at Colosseum. Later, however, the Fed partially overturned and some speculators returned to the … Read more