According to the latest statistical publications of the Czech Statistical Office, deflation has reached the Czech Republic. The consumer price index or inflation was 1,0% on average during the year 2009, however, all market prices dropped and only price regulated (monopoly) prices went up. This is consistent with the producer price index that is in deflation for both the agricultural sector (-24.8%), the biggest annual drop since they started to collect data in 1991. Industrial producer prices are down by 3.1% on average in the year 2009, which was the biggest annual drop from the beginning of data collection in 1991.
It is only government intervention that keeps the Czech Republic out of deflation, with partly government-funded construction prices and government controlled prices rising. These data highlight the vulnerability of the Czech recovery which had some encouraging, although mixed signs in the trade balance.
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