INSTANT VIEW 1-Slovak Jan EU-norm CPI in line with forecasts

    Slovak consumer prices rose 
0.5 percent month-on-month in January, according to EU-norm 
data, putting the annual inflation rate at 2.2 percent, data 
from the Statistics Office showed on Wednesday. 
     
SLOVAK EU-NORM INFLATION       JAN 07   JAN 06   JAN FORECAST 
  pct change mo/mo             +0.5     +1.9      +0.5 
  pct change yr/yr             +2.2     +4.1      +2.1 
   
  (Details of Dec inflation data ............. [ID:nPRG000249]) 
   
NOTE: 
- Food and non-alcoholic beverages, which have a strong 
weighting in the consumer price basket, jump 2.2 percent 
month-on-month, after a 0.3 percent rise in December. 
- Housing, water, electricity, gas and other fuels, which 
pushed inflation up last year, fall by 0.2 percent on the month 
in January, after a 0.1 percent rise in December. 
- Annual price growth in the housing category, which has the 
strongest weighting in the consumer basket, is 3.1 percent, 
after 8.9 percent rise in December. 
- Transportation prices fall by 0.3 percent month-on-month, 
after a 0.5 percent drop in December. 
     
    BACKGROUND: 
- The central bank 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 1.0 percent on the 
month, putting the annual rate at 3.0 percent year-on-year in 
January. 
- Slovakia wants to meet all criteria for euro adoption in 2008. 
The central bank predicts EU-norm inflation will fall to 1.5 
percent at the end of 2007. 
- The central bank left the key two-week repo rate unchanged at 
4.75 percent at the monthly February monetary meeting on 
Tuesday. 
     
    LINKS: 
- For further details on January 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 .................... 
 

[BRATISLAVA/Reuters/Finance.cz]