The paper is devoted to the inflation prediction by CBS and the uselfuness of this prediction in the evaluation of the effectiveness of the investments. The aim of the paper is to examine the causality rate between the inflation prediction and actual future inflation. The article uses commonly available data published by the CNB. Methodology of the paper is principally based on the time series methods (first of all correlation and regression), trends analysis and graphs. The standard literary research, description, comparison and analytic-synthetic methods are used in this paper as well. The results of the article will more precisely clarify the ability of the CNB to predict inflation and, in a wider context, effectiveness of the inflation targeting.