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INSTANT VIEW 1-Czech Nov PPI 0.5 pct m/m, 2.7 pct yr/yr

PRAGUE, Dec 15 (Reuters) - Czech industrial producer prices rose 0.5 percent month-on-month in November and increased 2.7 percent year-on-year, above market expectations and its biggest annual rise in two years, data showed on Wednesday. Analysts had forecast a 0.2 percent month-on-month increase in industrial PPI and a 2.4 percent year-on-year growth. In October, producer prices were unchanged month-on-month and 2.6 percent year-on-year. The month-on-month development was affected by a 0.8 percent growth in food prices, along with a 2.0 percent rise in prices of coke and refining products. The statistics bureau said agricultural producer prices rose by 1.7 percent on the month, and showed its fourth annual growth in a row with 23.4 percent, a sharp turnaround from a series of falls in the previous two years. **************************************************************** KEY POINTS: (change in percent) Nov Oct Nov forecast PPI month/month 0.5 0.0 0.2 year/year 2.7 2.6 2.4 (For full table of data........................) - In the year-on-year comparison, producer prices were driven by a 19.6 percent rise in prices of coke and refinery products, the statistics office said. - Prices of chemicals rose by 12.4 percent year-on-year and prices of metal prices were up 9.5 percent. - Construction work prices were flat on a month-on-month basis and dipped 0.3 percent year-on-year. - Prices in the service sector dropped by 0.1 percent on the month and fell by 1.2 percent year-on-year. BACKGROUND: - Industrial PPI and agriculture producer prices are watched closely by the markets as leading indicators for consumer inflation, which is targeted by the Czech central bank (CNB). - November consumer inflation - October industrial output figures - Report on last Czech c.bank rate decision...... LINKS: - For further details on November producer prices and past data, Reuters 3000 Xtra users can click on the statistical bureau's Website: http://www.czso.cz/eng/csu.nsf/kalendar/2004-ipc - For LIVE Czech economic data releases, click on - Instant Views on other Czech data - Overview of Czech macroeconomic indicators - Key data releases in central Europe - For Czech money markets data click on - Czech money guide - Czech benchmark state bond prices - Czech forward money market rates (Writing by Jason Hovet) Keywords: CZECH PRICES/ (prague.newsroom@thomsonreuters.com;+420 224 190 477; Reuters Messaging: jason.hovet.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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