With GDP at 83 percent of the average, the price level in the Czech Republic rose to 66 percent of the euro area average last year from 64 percent in 2016, according to the Ministry of Finance. “In the coming years, the comparative price level of GDP should gradually increase to 70 percent in 2019. However, this increase should not jeopardize the competitiveness of the Czech economy,” the ministry said.
The economic level of the countries are compared on the basis of the purchasing power parity. This is the ratio between currencies that express the ability to buy the same set of goods or services in both countries. The price level index is the share of the exchange rate and the purchasing power parity between currencies.
Europe differently
Get your daily dose of Remix News straight to your mailbox!
Thank you!
You have successfully joined our subscriber list.
Czechia aims to be a land of ideas, says PM Babiš
Czech Republic must act as a strong team
Inflation in EU accelerates, Czech prices jump to 4th highest
Of the 27 members, prices are rising fastest in Hungary
Bavarian companies struggle with lack of Czech workers, some reduce operations
Commuters give up their jobs at Bavarian companies
Fitch: Hungarian economy will boom in 2021-22
Hungary will outperform both its peers and the EU as a whole, according to Fitch ratings
OECD: Czech economy will return to pre-crisis levels in two years
The government should continue to support the economy
V4 finance ministers sign declaration of financial and economic cooperation
V4 will cooperate on fighting tax fraud and taxation of the digital economy
Czech koruna strengthens to record high against euro and the dollar
Against the dollar, koruna the highest since 2018
Czechs express deep reservations about distribution of EU recovery funds
PM Babiš refuses to rule out possible veto
Wages in Czechia grow faster than in the EU
Wages in Czechia increase faster than in the EU

Czech Republic will have to pay up if French-German recovery plan goes through: study
Czechia to become a net payer in proposed recovery plan for the coronavirus crisis

Will the Czech Republic nationalize strategic companies due to coronavirus?
Economists warn nationalization contradicts market economic theory but the Czech government is focused on saving jobs and Czech assets
EU solidarity with tinted glasses
Macron tries to convince Angela Merkel that the member states of the eurozone should guarantee the debts of its members. The Italians agree with it enthusiastically but American history proves that this is not a wise plan.