Czech inflation rose from 2.4% yoy in May to 2.9% yoy in June. This was in line with our forecast and the market consensus. The Czech National Bank had expected inflation to reach 2.8% yoy in June, but the pace was already 0.1pp above the central bank’s forecast in May. The lower base of last year significantly contributed to further acceleration in yoy consumer price growth, following 2.4% yoy in May and 1.8% yoy in April.