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M. Singer: Foreign shocks pull inflation down

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The low inflation rate in the Czech Republic is driven primarily by foreign shocks, Czech National Bank’s (CNB) governor Miroslav Singer said at the 185th Žofín Forum in Prague. According to Mr. Singer, the main factors causing low growth of consumer prices include the drop in crude oil prices. CNB predicts the inflation rate in 2015 at 0.6%. Consumer prices in 2016 will grow 1.7% and the inflation rate will approach the 2% target in 2017, according to the prediction.


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