Central European Daily

The Czech inflation figures are the highlight of today´s morning session. In line with our prediction, the month on month growth of consumer prices in January was rather slow (only 0.1 %). The CPI growth was constrained first of all by falling electricity prices (- 9.9 % m/m in January). The downward pressure was only partly offset by more expensive food and beverages. As a result, the year on year inflation dropped to 0.2 % – the lowest figure since late 2009.