INSTANT VIEW 1-Slovak Nov CPI slightly above forecasts

...on 
Tuesday. 
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KEY POINTS: 
SLOVAK HEADLINE CPI      NOV 07     NOV 07 FCASTS 
  pct change mo/mo       +0.5          +0.3 
  pct change yr/yr       +3.1          +3.0 
     
(for full table please click ............ [ID:nBSD000011]) 
     
- November core inflation rate, which excludes the impact of 
changes to state-regulated prices and excise taxes, rose 0.6 
percent month-on-month and 3.8 percent year-on-year. 
- The category of housing, water, electricity, gas and other 
fuel prices was up 0.1 month-on-month in November, matching the 
rise from September. 
- Prices of food and non-alcoholic beverages rose 1.2 percent on 
the month in November, slowing down from a 2.6 percent increase 
in October. 
- Transportation prices, influenced mainly by oil costs, rose 
0.4 percent on the month in November, after staying flat in 
October. 
     
MARKET REACTION: 
- The Slovak crown was unchanged after inflation data, trading 
at 32.060 to the euro  as of 0805 GMT. 
     
BACKGROUND: 
- Inflation data were calculated according to domestic 
methodology. 
- The central bank (NBS) sets its goals according to inflation 
calculated under the EU-harmonised consumer price index as part 
of Slovakia's goal to adopt the euro in 2009. 
- The Statistics Office will release EU-norm inflation data for 
November on Dec. 14. 
- The market followed local inflation data in the past because 
of their earlier release, but analysts have started to pay more 
attention to statistics by EU-methodology after the two figures 
began to show wider differences earlier in 2007. 
- Slovak inflation accelerated in 2005 and 2006 due to hikes in 
natural gas and heating prices for households. 
- But price growth slowed at the start of 2007 partly due to 
government pressure on utilities. 
- Both local and EU-norm inflation has picked up speed in the 
past three months due to rising cst of food. 
- The central bank, which cut its key two-week repo rate by 25 
basis points to 4.25 percent in March and April, held rates 
steady for the seventh month in a row in November. 
     
LINKS: 
- For further details on November 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 Santa; editing by David 
Stamp) 
    
  Keywords: SLOVAKIA INFLATION/  
    

[BRATISLAVA/Reuters/Finance.cz]