Inflation in August again surprised significantly upward above all expectations. Services are becoming more expensive, but price increases are running across the consumer basket. Rising inflation may be largely a temporary phenomenon, but fears of rising inflation expectations are likely to force the CNB to tighten monetary policy more quickly. At the end of September, we expect the CNB's key rate to increase 50 basis points to 1.25%.

AmCham Health Care Council Co-Chair Tomáš Březina of Amgen led a meeting with Minister Vojtěch and Deputy Minister Martina Koziar Vašáková on covid vaccination policy, major disease prevention, and digitization. Jana Břeská of Amazon Web Services, Martin Koníř of KPMG, Nelly Tomčíková of AmCham and Weston Stacey of AmCham also attended the session.

Employers in the Czech Republic anticipate the strongest hiring pace in two years during the October to December period, reporting a seasonally adjusted Net Employment Outlook of +10%. Hiring intentions strengthen by 5 and 9 percentage points from 3Q 2021 and 4Q 2020, respectively.

Optimism is back in the boardroom

It’s been about 18 months since the World Health Organization declared a global pandemic, and the latest edition of our CEO Outlook survey gauges how leadership strategies and concerns have shifted during these demanding times.  CEOs are confident in the growth prospects of their company and the global economy in general. They feel a strong connection to their organization’s purpose and are looking to expand their business to emerge stronger.