By Albin Sybera Czech consumer prices increased by 2.2% year-on-year in August, which is the same level of growth Czech statisticians reported for July. Month-on-month, inflation grew by 0.3%. The y/y figure is slightly above the 2% inflation target level and the 1.8% y/y forecast for August by the Czech National Bank (CNB). It also comes two weeks ahead of the CNB monetary meeting where it will decide on whether to keep lowering interest rates, a cycle which it began last December. “The y/y development of consumer prices in August was significantly influenced by the prices of food and fuels, …