Czech cbank: Nov CPI surprise due food,fuel prices

...expected food and fuel prices, the central bank (CNB) said on Monday.

Data released earlier in the day showed the annual inflation rate rose to its highest since August 2001 from 4.0 percent a month earlier, exceeding the 4.5 percent market forecast and fanning expectations of further interest rate hikes next year.

Tomas Holub, head of the CNB's monetary and statistics department, said in a statement that core inflation excluding fuels, regulated prices as well as the impact of tax changes on consumer prices were roughly in line with the CNB's forecast.

He did not elaborate on policy implications of the release. (For INSTANT VIEW of inflation data, click on [ID:nL10470437]) (Reporting by Marek Petrus, editing by Mike Peacock)

Keywords: CZECH ECONOMY/INFLATION CENTRALBANK

[PRAGUE/Reuters/Finance.cz]