Business News
Czech unemployment up, inflation down
Jul 9, 2009, 8:32 GMT
Prague - The Czech Republic's unemployment rate continued to rise in June while inflation continued to fall, as a drop in demand was troubling the export-reliant economy, government data showed Thursday.
The unemployment rate, based on the number of jobseekers registered with state labour authorities, climbed to 8 per cent in June, up from 7.9 per cent in May, the Ministry of Labour and Social Affairs said.
Meanwhile, year-on-year inflation slowed down to 1.2 per cent in June, the lowest reading since December 2003, the Czech Statistical Office said. The rate stood at 1.3 per cent in May.
Consumer prices remained steady month-on-month, the statisticians said.
The central European country of 10.4 million was largely spared the meltdown on global financial markets, but a fall in orders from western Europe has been hurting the economy.
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