Consumer prices in February increased, according to our estimate, by 0.1%. Inflation should remain at 1.3% y/y. The upwards move in the consumer price index was caused by trips into the mountains. On the other hand, we could see a seasonal decline in the prices of clothes and shoes. From a monetary policy point of view, the February inflation numbers should have come in slightly under the current forecast for rates of the Czech National Bank. However, during the last CNB board meeting, inflation risks were evaluated as flat, which corresponds with our expectation that interest rates will remain stable, at least for the near term, in the coming months.