Economic policy / Macroeconomic Indicators, Economic Growth
This section reports on economic policy initiatives of the Czech government, the EU, and other entities that have a direct impact on the competitiveness of the country. It also includes information on economic priorities of the AmCham and other leading associations.
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5 reasons global shipping costs will continue to rise
Shipping costs have risen sharply and fierce competition for ocean freight capacity is the new normal. With new capacity only slowly coming onstream, freight rates are expected to continue to reach new highs this year and will remain above their pre-pandemic levels in the longer term
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The economy is booming and inflation looks for a ceiling
Data published in June will confirm a slight decline of the Czech economy at the beginning of the year and a moderation in average wage growth. At the same time, monthly data for April will show a rapidly growing economy due to the easing of anti-pandemic measures. The reopening of services will likely lead to faster inflation in May. We expect the Czech National Bank to raise interest rates at its meeting in August. However, financial markets expect a hike as early as the June meeting.
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Shortages to send eurozone goods prices higher, but probably not for long
Goods inflation is set to rise more as shortages and supply chain disruptions will be priced through to the consumer. We find that shortages do lead to price rises, but that there is no lasting effect once shortages end, suggesting the surge in prices will be temporary
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