Study: Czech prices have tripled since 1993


Prices in the Czech Republic have almost tripled since the foundation of the state in 1993, according to a new analysis produced by Raiffeisenbank. The Czech crown has strengthened by roughly a quarter in the same period, the study found.

Raiffeisenbank analyst Helena Horská told the Czech News Agency that if somebody had placed CZK 100 under their pillow in 1993 it would today get them around a third of the goods it would have then.

However, if they wished to spend the same sum abroad they could buy a similar amount as today, because prices abroad have grown at roughly the same tempo as the crown has strengthened, she said.