Inflation speeds up in October to 2.9 percent

The pace of price rises speeded up in the Czech Republic in October.

Year-on-year inflation climbed to 2.9 percent from September’s 2.7 percent, the Czech Statistical Office announced on Thursday. That is the highest rate since October 2012 and an indication of what some experts are warning is an overheated economy.

The main factors were the higher costs of food and non-alcoholic drinks. Utility charges and the costs of housing were also a major factor. Month-to-month, the inflation rate in October was 0.5 percent.

The Czech National Bank has a target yearly inflation figure of 2.0 percent.