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In Business News this week: Czech unemployment rate at lowest level since March 2009; Czech consumer annual prices growth accelerates to 0.4 percent; number of Czechs facing four or more property seizures sharply increases; Export of used cars from Czech Republic grows by 45 percent; the Czech Republic has rolled out its first wine vending machine or “vinomat”.
Czech unemployment rate at lowest level since March 2009
The Czech unemployment rate is at its lowest level since March 2009. According to the figures released by the country’s Labour office this week, unemployment in September dropped to 6 percent from 6.2 percent the previous month. The office currently registers 441.892 unemployed persons and there are on average 4.1 applicants for every vacancy. The positive trend has been driven by strong economic growth. A slight increase in the jobless rate is expected towards the end of the year with the end of seasonal work.
Czech consumer annual prices growth accelerates to 0.4 percent
Czech consumer prices inflation accelerated in September to 0.4 percent year-on-year, the Czech Statistical Office reported on Friday. The inflation figure was 0.1 percentage point higher than in August. Analysts had expected the inflation rate would be flat or fall. The increase was fuelled mainly by price increase of holidays and services as well as by the higher prices of alcohol and tobacco.
Number of Czechs facing four or more property seizures sharply increases
The number of Czechs who are facing four or more property seizures has markedly grown despite the overall number of property seizures going down in the long-term, the Czech Chamber of Bailiffs has warned. While the number of people facing property seizures in the Czech Republic has dropped by 27 percent over the past two years, from one million in 2013 to 730,000 in 2015, the number of seizures has increased at the same time by 29 percent, from 3.3 million to 4.4 million.
Export of used cars from Czech Republic grows by 45 percent
The export of used cars from the Czech Republic will grow this year by 45 percent to 91,000 vehicles, compared to 2014. The reason behind the steep increase is the artificially weakened Czech currency. According to the vehicle-security firm CEBIA, which monitors the origin of cars on Czech roads, the exported cars are usually less than five years old and they are exported mainly to other EU countries. The number of used cars imported into the Czech Republic has increased by around 25 percent, and more than fifty percent of these cars are over 10 years old.
Czech Republic launches its first wine-vending machine
The Czech Republic has rolled out its first wine vending machine or “vinomat”. The trial operation of the wine-selling machine, which functions like a normal coin operated drink dispenser, was launched in Ostrava earlier this week. Buyers are required to insert their ID card into the machine in order to verify their age. Vinomat, which is operated by the Pavlovín company from the wine town of Velké Pavlovice, currently offers four types of wine.