In October, Czech consumer prices decelerated due to lower prices of energy. Inflation declined slightly below the market expectation as well as below the CNB forecast. However, the surprise was small while core inflation remained elevated at 3.7% yoy. Monetary policy has no reason for change, and the central bank will wait for further development.

This assessment is intended to assist members in their short and long-term planning by providing the outcome of discussions among board members. The board has been holding regular assessment sessions to share and discuss the impact within their industry and among their clients, customers and partners. These exchanges have been informed by research and input from our committees. This document is a working document which will be updated regularly, and all comments and suggestions are welcome. The document is divided into five sections: 1) duration of the crisis, 2) economic impact, 3) transformative effect, 4) effectiveness of government measures, and 5) business priorities.

AmCham brings an overview of data published by the Czech Ministry of Health, Institute of Health Information and Statistics of the Czech Republic (UZIS) and The European Centre for Disease Prevention and Control to show the Covid-19 development in the Czech Republic, Europe and the world. 

Enacted in September 2020, Act No. 386/2020 Coll. abolished the Czech real estate acquisition tax with retroactive effect (dating back to ownership titles registered in December 2019). The effects that this measure will have on the local residential market are evident and have been addressed in a number of commentaries. However, the potential effects of the tax change on business transactions, whether in the wholesale real estate market or otherwise, have largely been ignored . We will take a first quick look at them in this commentary.