June producer price data do not indicate their major effect on inflation development, ÈSOB’s analyst Petr Dufek has commented. According to Mr. Dufek, wages are accelerating due to lack of employees and offer hope of higher inflation. ING Bank’s economist Jakub Seidler says that the change of producers’ prices will be slower than anticipated. He argues that the effect of the crude oil price decline will begin to subside in the y/y comparison in H2 2016 and producer prices’ decline could slow down from current -4.4% to -1.5% by the end of 2016.
Source: www.cianews.cz
