INSTANT VIEW 1-Slovak Nov PPI up by double monthly forecast

...Statistics 
Office said on Thursday. 
    Analysts polled by Reuters had forecast producer price 
inflation of 0.3 percent month-on-month and a 1.7 percent 
year-on-year in November. 
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KEY POINTS:   
PRODUCER PRICES               NOV 07     NOV 07 FORECASTS 
pct change month/month        +0.6           +0.3 
pct change year/year          +2.0           +1.7 
   
  (Full table of Nov PPI data ........ [ID:nPRG000644]) 
   
 - Among the three PPI categories, prices of industrial products 
rose by 0.5 percent on the month in November, after a 0.4 
percent growth in October. 
 - Prices of food and tobacco products rose by 2.3 percent on 
the month, after a 1.4 percent rise in October. 
 - Prices of electricity, gas, steam and hot water rose by 0.6 
percent month-on-month, after a 0.3 percent rise in October. 
 - Prices of raw materials rose by 0.3 percent in November, 
after a 0.6 percent drop in October. 
- Within industrial products, refinery goods prices rose by 4.7 
percent month-on-month, after a 4.0 percent rise in October. 
     
    MARKET REACTION 
    The Slovak crown was unchanged after PPI data, holding flat 
at 33.610 per euro  as of 0810 GMT. 
     
    BACKGROUND  
 - Slovak producer price inflation slowed at the beginning of 
2007 after the impact of last year's jump of energy prices 
faded. 
 - PPI has little significance for consumer price inflation, but 
its slowing trend has coincided with falling shop prices this 
year. 
 - Slovakia needs to keep consumer price inflation down to 
fulfil its goal of adopting the euro in 2009. 
 - The central bank kept interest rates on hold in December for 
the eight month in a row despite higher inflation driven mainly 
by rising prices of food. 
    
   LINKS: 
 - For further details on November producer prices, Reuters 3000 
Xtra users can click on the statistics office's website: 
http://www.statistics.sk/webdata/english/index2_a.htm   
- For LIVE Slovak economic data releases, click on...... 
- Schedule of upcoming indicator releases............ 
- Summary of short-term economic data forecasts...... 
- Stories on Slovak currency moves........................[SKK/] 
- Slovak speed money guide .............................. 
- Slovak benchmark state bond prices ................. 
- Slovak forward money market rates .................... 
    (Reporting by Martin Santa; editing by Stephen Nisbet) 
     
 
  Keywords: SLOVAKIA ECONOMY/PPI  
    

[BRATISLAVA/Reuters/Finance.cz]