(Bloomberg) -- Czech inflation was slower than expected in November but remained near the upper end of the tolerance range as central bankers consider a pause in monetary easing.
Consumer prices grew 2.8%, matching the reading from a month earlier, the statistics office said Tuesday. The figure was below the 3% median analyst estimate in a Bloomberg survey and also trailed the central bank’s 2.9% projection for the month.
Policymakers in Prague are weighing persistent risks from the rising cost of services and a recovering property market against sluggish growth in the economy and its biggest export market, Germany.
While the Czech National Bank expects inflation to slow down next year, some board members have called for caution after slashing the key rate by a cumulative 300 basis points over the past year to 4%. The central bank is scheduled to publish the closely-watched core inflation figure and comment on the data later on Tuesday.
Money-market prices show most investors are positioned for no change in rates on Dec. 19, followed by about another 50 basis points of easing in 2025.
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