More Than Half A Million Working in Czech Shadow Economy
A recent study by the Invisible (“Neviditelní”) project has found that more than half a million people in the Czech Republic do not declare their income and are not thinking…
Czech Republic Records Seventh Fastest Increase In House Prices In The EU
According to Eurostat, house prices in the Czech Republic have risen over 70% between 2010 and 2021 - the seventh highest increase in the EU. Rents have also risen significantly,…
Trade and Hospitality Sectors See Biggest Drop In Employment Due To Pandemic
According to data from the Czech Statistical Office (ČSÚ), the decline in GDP and rise in unemployment in the first quarter of 2021 was mostly driven by the impact of…
Inflation Up To 2% in the EU; Prices Rise Significantly In Visegrad Countries
The inflation rate in the European Union rose to 2% in April, up from in March. According to Eurostat, price increases are strongly evident in the Visegrad Group (V4), which…
Czech Economy Shrank By A Record 5.6% In 2020
In 2020, GDP per capita decreased in almost all countries due to the effects of the coronavirus pandemic. According to the Czech Ministry of Finance’s Macroeconomic Forecast, the Czech economy…
Inflation Rises To 2.3%, But Basic Goods And Services Are Cheaper Than Last Year
In March 2021, the inflation rate rose to year-on-year, and from the previous month. The growth was mainly due to the increase in fuel prices, while essential goods and services…
Number of New Czech Trade Licences Drops 11% In First Quarter of 2021
In the first three months of this year, the number of new trade licences issued in the Czech Republic decreased by 11% compared to 2020. Meanwhile, the number of licences…
Global Food Prices Reach Highest Level Since June 2014
March 2021 saw global food commodity prices rise for the 10th consecutive month. The FAO Food Price index, which monitors monthly changes in the global prices of commonly-traded food commodities,…
Average Wages In The Czech Republic Increase By 3.8%
According to new data from the Czech Statistical Office (CZSO), the average gross wage in the Czech Republic rose to CZK 38,525 in the last quarter of 2020. The highest…
Fear of Coronavirus Making Way For Fears About Economic Impact
The Czech population is gradually becoming less afraid of the coronavirus, but nearly half of those surveyed reported concerns over the consequences of the pandemic on the domestic economy. After…