RTTNews - Monday, the Czech Statistical Office announced that the consumer price index or CPI rose 0.3% year-over-year in July, slower than the 1.2% increase in the previous month. This was the lowest annual inflation since September 2003. Economists were looking for an increase of 0.5%.

On a monthly basis, the CPI dropped 0.4% in July, after a flat reading in June. Economists had expected an decrease of 0.1%. This was mainly due to decline in food and non-alcoholic beverages prices.

Meanwhile, the harmonized index of consumer prices or HICP rose 0.1% in July, slower than the 0.8% growth in the previous month. The HICP dropped 0.4%.

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