The rate of Czech inflation speeded up in August to 0.6 percent year-on-year compared with 0.5 percent in July. Higher prices for alcohol and tobacco were among the main factors fuelling the rise. A slowdown in the drop in food prices, which has been a feature of recent months, and higher charges for utilities also contributed. The Czech National Bank has a long term inflation target of 2.0 percent which it has long struggled to look like achieving. Some analysts, however, see a chance that the inflation rate might rise to beyond 1.0 percent by the end of the year.
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