Czechia - Consumer Price Index (CPI)

Czechia: Consumer Price Index (CPI)

Mnemonic	CPI.ICZE
Unit	Index 2015=100, NSA
Adjustments	Not Seasonally Adjusted
	Monthly	0.61 %
Data	Feb 2023	147.3
	Jan 2023	146.4

Series Information

Source	The Czech Statistical Office (CZSO)
Release	Consumer price index
Frequency	Monthly
Start Date	1/31/1991
End Date	2/28/2023

Release Information

Description

Consumer price index for the Czech Republic and Prague, detailed by ECOICOP, monthly.

Properties

Active:

Classification: ECOICOP
Measurement: Fixed-base index relative to 2015 (Index 2015=100)
Adjustment: Not seasonally adjusted (NSA)
Native frequency: Monthly
Start date: Uniformly 1995m1
Geo coverage:
- Country
- National capital (ICZE_PR)

Predecessors:

2005=100 - 2005* to 2016
2000=100 - 1997 to 2007

In general, inflation is the growth of price level over a certain period of time. As a statistical concept, inflation is based on measuring net changes in prices using consumer price indices (CPI). Price indices measure the price level of a selected basket containing representative products and services (about 710 items) in two compared periods. The weights of individual price representatives in the consumer basket correspond to the share of a given kind of consumption which they represent in total household consumption. The consumer basket comprises foodstuffs (food, beverages and tobacco), other goods (clothing, furniture, household utensils, miscellaneous chemist's and small articles, goods for transport and leisure, personal care goods, etc.) and services (in the areas of repair, housing, household running, health and social care, transport, leisure, education, catering and accommodation, personal care and financial services).

The correct interpretation of the indices depend on the period in question. The consumer price index are often given figures which are different but both correct when explaining the rate of inflation. The commonly used inflation rates are 1) the inflation rate as an increase in the average annual CPI 2) inflation rate as an increase in CPI compared to the corresponding month in the previous year 3) inflation rate as an increase in CPI in relation to the previous month, and 4) inflation rate as an increase in CPI compared with the base year.

The classification used for this release is CZ-COICOP, which is a localization of UN-COICOP.

Moody's Analytics supplements

We extend the general index, national and Prague, using IMF data. For both, we produce a seasonally adjusted counterpart using X-13ARIMA-SEATS.

Notes

A full English-language methodology is attached to each monthly press release.

ECOICOP and CZ-COICOP are identical to UN COICOP at the granularity of our extract.