INSTANT VIEW 1-Slovak Oct EU-norm CPI well above fcasts

...the Slovak 
Statistics Office said on Thursday. 
**************************************************************** 
 KEY POINTS: 
 SLOVAK EU-NORM INFLATION         OCT 07      OCT 07 FORECAST 
  pct change mo/mo                +0.7           +0.2 
  pct change yr/yr                +2.4           +1.9 
(Details of Oct inflation data .............[ID:nBSD000057]) 
  
- Food and non-alcoholic beverages, which have a strong 
weighting in the consumer price basket, rose by 2.9 percent 
month-on-month, after a 0.8 percent rise in September. 
- Housing, water, electricity, gas and other fuel prices, which 
pushed inflation up last year, is flat on the month in October, 
after a 0.1 percent increase in September. 
- Transportation prices rise by 0.1 percent month-on-month, 
after a 0.1 percent dip in September. 
- Annual price growth in the housing category, which has the 
strongest weighting in the basket, is 2.2 percent in October. 
- Food and non-alcoholic beverages is up 6.4 percent on the 
year. 
     
BACKGROUND:  
 - The central bank (NBS) follows inflation calculated by the EU 
methodology as a part of Slovakia's plan to adopt the euro in 
2009. 
 - Prices under the local methodology rose 0.6 percent on the 
month in October, putting the annual rate at 3.3 percent. 
 - Slovakia aims to meet all criteria for euro adoption in 2008. 
The central bank predicts the EU-norm inflation rate of 1.6 
percent at the end of 2007. 
 - The central bank left its key two-week repo rate at 4.25 
percent in October, for the sixth month in a row, saying that 
the strong crown had tightened monetary conditions. 
     
LINKS: 
- For further details on October inflation and other past data, 
Reuters 3000 Xtra users can click on the Slovak Statistics 
Office's website: 
http://wwww.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 Peter Laca and Martin Dokoupil) 
   
  Keywords: SLOVAKIA INFLATION/  
    

[BRATISLAVA/Reuters/Finance.cz]