The Czech Trade Inspection has imposed the maximum possible fine of five million crowns on the Penny Market chain for repeatedly miscalculating discounts. A new analysis by Forvis Mazars confirms that the Czech economy grew in the first quarter of 2026 at a rate close to its potential, driven by household consumption and a recovery in investment. According to the same report, inflation has stabilized near the Czech National Bank's target, although it continues to be driven up by higher fuel prices. Energy markets remain volatile due to geopolitical tensions.

The Penny Market retail chain has been fined the maximum amount of five million crowns by the Czech Trade Inspection for repeatedly incorrectly calculating discounts on various products. The decision was made by the branch of the Czech Trade Inspection in Pilsen and has now become legally binding. During 47 inspections, inspectors found more than 500 cases of incorrectly calculated discounts and 18 cases of incorrect billing. Markéta Smutná, spokesperson for Penny Market, stated that the chain respects the inspection's decision and will pay the fine. According to current legislation, discounts cannot be calculated based on the daily price, but must be based on the lowest price of the product in the last 30 days.

The Czech economy, according to a new report by Forvis Mazars, grew in the first quarter of 2026 at a rate close to its potential. The main driver was household consumption, but investment by companies, the public sector, and households also contributed to the growth. According to a preliminary estimate, GDP grew by 0.2 percent quarter-on-quarter and 2.1 percent year-on-year. The Czech National Bank expects a slight slowdown in the pace of growth this year to 2.5 percent, due to the negative impact of the war in the Middle East. Last year, the economy grew by 2.6 percent.

According to the same analysis, inflation has gradually stabilized near the central bank's target, which contributes to better predictability for businesses and households. Consumer price inflation in April reached 2.5 percent year-on-year, largely due to a year-on-year increase in fuel prices of 24.5 percent. The Czech National Bank expects that consumer inflation for the entire year will reach 2.2 percent, while core inflation will remain elevated at 2.8 percent.

Energy markets remain under strong influence from geopolitical events, and their development is still volatile. However, a more stable price environment in other segments of the economy makes it easier for companies and households to plan investments and creates more favorable conditions for sustainable growth.

gnews.cz - GH

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