Czech inflation unexpectedly slows to 2.8pc y/y in April

PRAGUE: Czech inflation slowed in April to a rate of 2.8pc year-on-year, bucking analysts' expectations for price growth to stick at the upper limit of the tolerance band around the central bank's target.

The headline figure eased from a reading of 3.0pc in March, its fastest rise since 2012.

The statistics office said alcohol and tobacco prices were behind the deceleration.

Analysts had expected the rate unchanged in April.

The bank, which forecast a 2.9pc reading, targets inflation at 2 percent, with a +/- 1 percentage point band.