INSTANT VIEW 1-Czech Sept annual CPI 2.8 pct, matches forecast

...earlier, 
in line with expectations. 
**************************************************************** 
KEY POINTS: 
(pct change)          Sept         Aug         Sept forecast 
 month/month         -0.3          0.3         -0.4 
 year/year            2.8          2.4          2.8 
 
 CENTRAL BANK FORECAST: 2.7-3.1 percent annual CPI rate for 
September envisaged in its most recent projection unveiled in 
July. 
 
 (Details of September inflation data...............[nPRA001535] 
 (Details of September jobless data.................[nPRA001537] 
 
- Holiday package prices drop 16.1 percent from August, driven 
by seasonal factors. 
- Fuel prices dip 0.9 percent on the month, the second fall 
after five months of growth. 
- Food prices up 0.1 percent month-on-month. 
- Regulated rents up 1.3 percent on the month, prices of coal 
and other solid household fuels up 3.7 percent. 
- Goods prices up 0.1 percent on the month, services prices down 
0.9 percent. 
 
BACKGROUND: 
- The central bank increased the key two-week repo rate by 25 
basis points to 3.25 percent  in August. 
- Report on last Czech c.bank rate decision      [ID:nL27772602] 
  [ID:nPRA001517] [ID:nPRA001518] [ID:nPRA001533] [ID:n05533999] 
- The central bank (CNB) targets headline inflation which it 
seeks to keep at 3 percent year-on-year, allowing for 
fluctuations by plus/minus one percentage point from this level. 
- The CNB's quarterly prediction sees consumer prices rising 
3.5-4.9 percent year-on-year in June 2008 and 3.5-4.9 percent in 
December 2008, consumer inflation net of impact of indirect tax 
changes rising 2.6-4.0 percent year-on-year in June 2008 and 
3.0-4.4 percent in December 2008. 
 
LINKS: 
- For further details on September other past inflation data, 
Reuters 3000 Xtra users can click on the Czech Statistical 
Bureau's website: 
    http://www.czso.cz/eng/csu.nsf/kalendar/2004-ISC 
 
- For LIVE Czech economic data releases, click on        
- Instant Views on other Czech data                 [CZ/INSTANT] 
- Overview of Czech macroeconomic indicators            [CZ/ECI] 
 
- Key data releases in central Europe    [CEE-CONVERGENCE-WATCH] 
- For Czech money markets data click on                 
- Czech money guide                                       
- Czech benchmark state bond prices                    
- Czech forward money market rates                       
 
 

[PRAGUE/Reuters/Finance.cz]