Tuesday, 13 January 2026
Price developments in the Czech Republic showed further signs of stabilisation toward the end of 2025, with both foreign trade prices and consumer inflation pointing to a calmer cost environment as the year closed.
Data published by the Czech Statistical Office indicate that prices linked to international trade continued to decline in November, while inflation at the consumer level remained moderate in December, broadly confirming a cooling trend seen throughout the second half of the year.
In November, prices of goods exported from the Czech Republic fell compared with both the previous month and the same period last year. The decline was most pronounced in energy-related products and industrial inputs, reflecting lower global commodity prices and softer demand across European markets. Chemical products and refined fuels also recorded notable price reductions, while some gains were observed in wood-related exports.
Import prices followed a similar trajectory, edging down slightly month on month and showing a sharper fall compared with November 2024. Energy commodities, particularly oil and gas, accounted for a significant share of the annual decline, alongside lower prices for clothing and electricity. At the same time, certain manufactured goods, including vehicles and household furnishings, became more expensive to import.
Despite these movements, the balance between export and import prices remained broadly favourable over the year, suggesting that Czech exporters were still able to maintain relatively stable pricing conditions compared with their trading partners.
At the consumer level, prices eased in December compared with November, largely due to lower food costs and reduced spending on transport. Fuel prices fell again toward the end of the year, adding to the downward monthly effect, while seasonal price adjustments in food categories also played a role.
On an annual basis, however, consumer prices continued to rise at just over two percent, unchanged from the previous month. Housing-related expenses and services remained the main contributors to inflation, with service prices growing at a faster pace than goods throughout the year.
Looking at the full twelve months of 2025, average inflation settled in the mid-two-percent range. While goods prices showed only modest growth over the year, services became significantly more expensive, reflecting higher labour and operating costs across the economy.
Taken together, the latest figures suggest that price pressures in the Czech economy eased substantially compared with previous years marked by energy shocks and elevated inflation. Falling trade prices point to a more benign international environment, while stable consumer inflation near long-term targets indicates improved price predictability for households and businesses alike.
As 2026 begins, attention will turn to whether lower external costs translate into further relief for domestic prices, or whether services inflation and wage growth keep consumer prices on a steady upward path.
