INSTANT VIEW 1-Czech Oct PPI at +1.9 pct y/y meets fcasts

    PRAGUE, Nov 14 (Reuters) - Czech industrial producer prices 
stagnated in October from September, cutting the annual index 
(PPI) to 1.9 percent in line with consensus market expectations. 
 
KEY POINTS: 
(change in percent)       Oct        Sept       Oct forecast 
 month/month              0.0       -0.2       -0.1 
 year/year                1.9        2.4        1.9 
 
 (For full table of data...........................[nPRA001030) 
 
- A 5.5 percent fall in crude oil refinery costs on lower global 
prices was offset by a 1.5 percent rise in chemicals prices, a 
0.5 percent increase in basic metals, and a 0.3 percent gain in 
food producers' costs. 
- Agriculture producer prices rose 0.1 percent in October from 
September to post a 1.9 percent year-on-year increase, down from 
a 4.2 percent annual gain a month earlier. 
 
BACKGROUND: 
- Industrial PPI and agriculture producer prices are watched 
closely by the markets as leading indicators for consumer 
inflation which is targeted by the Czech central bank (CNB). 
- However, analysts have pointed out the pass-through of changes 
in production costs into overall consumer prices has been 
limited in recent months. 
 
- Oct consumer inflation         [ID:nL08914052] [ID:nL08889199] 
- Sept industrial output figures                 [ID:nL08849213] 
- Report on last Czech c.bank rate decision      [ID:nL26548848] 
                                                 [ID:nPRA001007] 
LINKS: 
- For further details on Octoberr producer prices and past data, 
Reuters 3000 Xtra users can click on the statistical bureau's 
Website: 
    http://www.czso.cz/eng/csu.nsf/kalendar/2004-ipc 
 
- For LIVE Czech economic data releases, click on       <ECONCZ> 
- 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                <CZKVIEW> 
- Czech money guide                                      <CZK/1> 
- Czech benchmark state bond prices                   <0#CZBMK=> 
- Czech forward money market rates                      <CZKFRA> 
 
 ((Writing by Marek Petrus; Editing by Alan Crosby; 
prague.newsroom@reuters.com; Reuters Messaging: 
marek.petrus.reuters.com@reuters.net; +420 224 190 477)) 
  Keywords: ECONOMY CZECH PRICES