Economic policy

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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Spotlight issue

15th July 2020 / Economic policy / Macroeconomic Indicators, Economic Growth

Consumer price inflation accelerates as core inflation breaks records

In June, consumer prices increased 0.6% mom and 3.3% yoy. Czech inflation thus accelerated significantly. This was due to higher prices of alcoholic beverages and tobacco, where the delayed effect of higher excise tax on cigarettes continued. However, core inflation also increased significantly, rising to 3.5% yoy from the previous 3.3%. According to the CNB, this value represents the inflationary risk of its current forecast. In our opinion, however, current high inflation is only a temporary matter and we expect it to decrease in the second half of this year.

10th July 2020 / Economic policy / Macroeconomic Indicators, Economic Growth

Czech inflation accelerated in June

Czech inflation surprised on the upside and accelerated from 2.9 to 3.3%, mainly on the back of higher tobacco and alcoholic beverages prices. Prices of services are also not slowing down as quickly, as expected

8th July 2020 / Economic policy / Tax & Finance

AmCham CZ Position on Digital Tax

We write to explain our view that the digital tax being debated by the Parliament will harm the overall economy more than any potential benefit. The AmCham Czech Republic is an association of Czech and American companies interested in making the Czech Republic a top ten economy in the EU by 2025. The digital tax will make it substantially harder to achieve that aim.