Faster Inflation Dims Prospect for Further Czech Rate Cuts

Czech inflation accelerated in June to the fastest pace this year, boosting the odds that policymakers will refrain from further interest-rate cuts at least in the coming months.

Consumer prices rose 2.9% from a year earlier, up from 2.4% in the previous month, according to preliminary data from the Czech Statistics Office on Friday. The reading matched the median estimate in a Bloomberg survey and was slightly above the central bank’s own 2.8% projection for the month.