Inflace v \u010cesk\u00e9 republice v letech 2021 a\u017e 2023 se stala jednou z hlavn\u00edch makroekonomick\u00fdch v\u00fdzev. Po desetilet\u00edch um\u00edrn\u011bn\u00fdch cen (v pr\u016fm\u011bru 2\u20133 % ro\u010dn\u011b) dos\u00e1hl r\u016fst spot\u0159ebitelsk\u00fdch cen v roce 2022 17,5 % \u2013 nejvy\u0161\u0161\u00ed hodnoty od roku 1993.
\nHlavn\u00edmi faktory byly glob\u00e1ln\u00ed faktory: rostouc\u00ed ceny energi\u00ed, naru\u0161en\u00e9 dodavatelsk\u00e9 \u0159et\u011bzce a n\u00e1sledky v\u00e1lky na Ukrajin\u011b. Dom\u00e1c\u00ed faktory \u2013 v\u010detn\u011b napjat\u00e9ho trhu pr\u00e1ce a siln\u00e9 spot\u0159ebitelsk\u00e9 popt\u00e1vky \u2013 v\u0161ak zv\u00fd\u0161ily infla\u010dn\u00ed tlak.
\nNejv\u011bt\u0161\u00ed dopad m\u011bl energetick\u00fd sektor. \u010cesk\u00e1 republika, z\u00e1visl\u00e1 na dovozu plynu a ropy, \u010delila prudk\u00e9mu n\u00e1r\u016fstu tarif\u016f za elekt\u0159inu a teplo. To p\u0159\u00edmo ovlivnilo dom\u00e1cnosti a zv\u00fd\u0161ilo pr\u016fmyslov\u00e9 n\u00e1klady.
\nNa rozd\u00edl od n\u011bkter\u00fdch zem\u00ed EU \u010cesk\u00e1 republika nezavedla rozs\u00e1hl\u00e9 p\u0159\u00edm\u00e9 energetick\u00e9 dotace. M\u00edsto toho se vl\u00e1da rozhodla pro c\u00edlen\u00e9 platby nejzraniteln\u011bj\u0161\u00edm skupin\u00e1m, co\u017e omezilo fisk\u00e1ln\u00ed z\u00e1t\u011b\u017e, ale inflaci pln\u011b nezm\u00edrnilo.
\n\u010cesk\u00e1 n\u00e1rodn\u00ed banka (\u010cNB) reagovala rozhodn\u011b: od b\u0159ezna 2021 do srpna 2023 byla kl\u00ed\u010dov\u00e1 \u00farokov\u00e1 sazba zv\u00fd\u0161ena z 0,25 % na 7,0 %. Jedn\u00e1 se o jednu z nejagresivn\u011bj\u0161\u00edch kampan\u00ed zp\u0159\u00eds\u0148ov\u00e1n\u00ed v Evrop\u011b.<\/p>\n
\nVysok\u00e9 sazby vedly k pos\u00edlen\u00ed koruny, co\u017e sn\u00ed\u017eilo n\u00e1klady na dovoz a ochladilo dom\u00e1c\u00ed popt\u00e1vku. Z\u00e1rove\u0148 v\u0161ak zv\u00fd\u0161ily n\u00e1klady na p\u016fj\u010dky, co\u017e zpomalilo v\u00fdstavbu bydlen\u00ed a spot\u0159ebitelsk\u00e9 v\u00fddaje.
\nDo konce roku 2024 se inflace stabilizovala na 3\u20134 %. Tento \u00fasp\u011bch je pova\u017eov\u00e1n za v\u00fdsledek spole\u010dn\u00e9ho \u00fasil\u00ed m\u011bnov\u00fdch a fisk\u00e1ln\u00edch org\u00e1n\u016f a tak\u00e9 za zm\u00edrn\u011bn\u00ed extern\u00edch \u0161ok\u016f.
\nJ\u00e1drov\u00e1 inflace, kter\u00e1 nezahrnuje energie a potraviny, v\u0161ak kles\u00e1 pomaleji. To nazna\u010duje zako\u0159en\u011bn\u00e1 infla\u010dn\u00ed o\u010dek\u00e1v\u00e1n\u00ed a rostouc\u00ed mzdy, co\u017e m\u016f\u017ee vy\u017eadovat dal\u0161\u00ed pozornost regul\u00e1tora.
\nJe d\u016fle\u017eit\u00e9 poznamenat, \u017ee inflace m\u011bla nerovnom\u011brn\u00fd dopad: dom\u00e1cnosti s n\u00edzk\u00fdmi p\u0159\u00edjmy trp\u011bly v\u00edce kv\u016fli vysok\u00e9mu pod\u00edlu v\u00fddaj\u016f na potraviny a energie, zat\u00edmco skupiny s vysok\u00fdmi p\u0159\u00edjmy byly schopny ztr\u00e1ty kompenzovat \u00fasporami.
\n\u010cesk\u00e1 n\u00e1rodn\u00ed banka bude pravd\u011bpodobn\u011b do budoucna sazby postupn\u011b sni\u017eovat, ale z\u016fstane opatrn\u00e1. Pou\u010den\u00ed z roku 2022 uk\u00e1zala, \u017ee i otev\u0159en\u00e1 a stabiln\u00ed ekonomika, jako je \u010cesk\u00e1 republika, je zraniteln\u00e1 v\u016f\u010di glob\u00e1ln\u00edm nerovnov\u00e1h\u00e1m.<\/p>\n","protected":false},"excerpt":{"rendered":"
Inflace v \u010cesk\u00e9 republice v letech 2021 a\u017e 2023 se stala jednou z hlavn\u00edch makroekonomick\u00fdch v\u00fdzev. Po desetilet\u00edch um\u00edrn\u011bn\u00fdch cen (v pr\u016fm\u011bru 2\u20133 % ro\u010dn\u011b) dos\u00e1hl r\u016fst spot\u0159ebitelsk\u00fdch cen v…<\/p>\n","protected":false},"author":2,"featured_media":103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":["post-102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomika"],"_links":{"self":[{"href":"https:\/\/neoloricin.com\/index.php?rest_route=\/wp\/v2\/posts\/102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/neoloricin.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/neoloricin.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/neoloricin.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/neoloricin.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=102"}],"version-history":[{"count":1,"href":"https:\/\/neoloricin.com\/index.php?rest_route=\/wp\/v2\/posts\/102\/revisions"}],"predecessor-version":[{"id":104,"href":"https:\/\/neoloricin.com\/index.php?rest_route=\/wp\/v2\/posts\/102\/revisions\/104"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/neoloricin.com\/index.php?rest_route=\/wp\/v2\/media\/103"}],"wp:attachment":[{"href":"https:\/\/neoloricin.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/neoloricin.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/neoloricin.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}