Unemployment up, inflation stable

08-09-2005

Unemployment went up by one decimal point in August, according to Labour Ministry figures published on Thursday. The number of people looking for work rose to just over half a million, or 8.9% of the workforce. The chief economist of Raiffeisenbank in Prague, Pavel Mertlik, said that despite the increase, the figure was encouraging. With those leaving school entering the job market, August is traditionally the worst month of the year.

Inflation figures have also been published, showing that the year-on-year rate for August remained unchanged at 1.7%. According to the Czech Statistics Bureau rises in fuel prices were matched by a fall in the price of some foodstuffs. Consumer prices remained at July levels.