Czech inflation hits top of central bank's target range

PRAGUE: Czech consumer prices rose faster than expected in March, reaching the top of the central bank's target range for the first time since 2012, statistics office data showed on Wednesday.

Prices increased by 0.2 percent on a monthly basis, putting the year-on-year inflation rate at 3.0 percent, picking up from a reading of 2.7 percent in February.

Analysts in a Reuters poll had expected a 2.9 percent growth, along with a 0.1 percent month-on-month increase.

The headline inflation figure was above the central bank's prediction of a 2.7 percent year-on-year rise for March. The bank targets inflation at 2 percent, with a tolerance band of +/- 1 percentage point.