In November, consumer prices in the Czech Republic rose by 2.8% year-on-year, matching the increase in October. The main drivers were higher costs for food and ancillary housing costs, while clothing and shoes contributed to the stabilization of the overall price level. However, the trend shows clear differences across the various segments of the basket of goods.
In November, consumer prices increased by 0.1% compared to the previous month. In the food sector, there were price increases for eggs (+23.3%), meat (+0.4%), and cheese and quark (+1.3%). Fuels and oils rose by 0.8%. However, the overall price level decline in November compared to the previous month was primarily influenced by more favorable prices for alcoholic beverages and tobacco products.
“In November, prices rose by 2.8% compared to the previous year, the same as in October. However, price trends varied across different segments of the basket of goods. The only area in which prices fell year-on-year was clothing and footwear, which decreased by less than 1%,” said Pavla Šedivá, Head of the Consumer Price Statistics Department at the Czech Statistical Office (ČSU).
In a year-on-year comparison, consumer prices rose by 2.8% in November, consistent with October. However, clear differences were observed across the individual basket segments. An increase in prices was particularly notable for food and non-alcoholic beverages. For example, prices in the milk, cheese, and eggs group rose by 4.3% in November, following a 0.1% decline in October. Egg prices, in particular, saw a sharp increase – after falling by 5.6% in October, they surged by 31.7% in November.
In contrast, the rise in residential prices slowed. Electricity prices increased by 9.2% (October: +10.5%), while gas prices fell by 2.9% (October: -2.3%). In the transport sector, the slowdown in the decline of fuel and oil prices influenced the overall price trend – these prices fell by 7.6% year-on-year in November (October: -11.4%).
Housing costs, including rents (+6.3%), goods and services for home maintenance (+4.0%), water charges (+10.9%), sewage charges (+13.4%), and heating and hot water (+8.5%) continued to have the greatest impact on the year-on-year increase in consumer prices.
Prices for alcoholic beverages and tobacco products followed in second place. Prices for spirits rose by 3.3%, beer by 3.0%, and tobacco products by 7.0%, while prices for wine decreased by 2.0%.
In the catering and accommodation sector, the price of food and accommodation services rose by 6.7% and 8.8%, respectively. In the leisure and culture sector, prices for package holidays rose by 6.6%. By contrast, the clothing and footwear sector contributed to the decline in the overall price level – clothing prices fell by 0.5%, and footwear prices decreased by 2.3%.
Prices for goods increased by 1.4% overall, while prices for services rose by 5.2%.
The consumer price index (CPI) for the base period of 2015 was 152.4% in November (October: 152.3%).
According to preliminary calculations, the harmonized index of consumer prices (HICP) in the Czech Republic rose by 0.1% in November compared to the previous month and by 3.1% compared to the same month of the previous year (October: +3.0%).
According to Eurostat’s initial estimates, the year-on-year HICP inflation rate in November 2024 was 2.3% in the eurozone (October: +2.0%), 2.4% in Germany, and 3.6% in Slovakia. The highest annual inflation rate was measured in Belgium (+5.0%), and the lowest in Ireland (+0.5%).
