Inflation rises by 0.7 percent in 2016 – highest rate in three years

Consumer prices in the Czech Republic grew by 0.7 percent in 2016, according to figures released on Tuesday by the Czech Statistics Office. That was the highest rate of inflation in three years. In 2015 consumer prices rose by 0.3 percent. In December they climbed by 2 percent year-on-year from the 1.5 percent seen in November; analysts say this confirms that the ending of the central bank’s weak crown policy will not prevent inflation this year.