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Investing.com -- Czech inflation slowed to 2.5% year-on-year in August from 2.7% in July, according to preliminary estimates released Thursday. The monthly price level increased by 0.1%.
The deceleration in annual inflation was primarily driven by food prices. The "food, alcohol, and tobacco" category saw a slight monthly decrease of 0.1%, with the year-on-year rate dropping significantly from 4.9% to 4.0%, mainly due to base effects.
Service prices continued to show strong growth, rising 0.5% month-on-month in August. The annual service inflation rate eased marginally to 4.7% from 4.8% in July, remaining at elevated levels.
Despite the modest slowdown in headline inflation, price pressures in the Czech economy remain elevated, with domestic demand and food price trends continuing to be key drivers.
The Czech Statistical Office has only published aggregated groups so far, with detailed inflation component data not yet available.
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