* WHAT: February consumer prices
* WHEN: March 10, 0800 GMT
* Consumer prices seen rising 0.2 percent month-on-month,
keeping year-on-year inflation flat at 9-year peak of 7.5
percent
By Mirka Krufova and Jan Lopatka
PRAGUE, March 3 (Reuters) - Czech consumer price growth
probably levelled off in February after a surge to nine-year
highs, a Reuters poll showed on Monday.
The survey of 14 analysts showed average expectation of a
0.2 percent monthly consumer price rise, which would keep the
year-on-year inflation rate flat at 7.5 percent, the January
peak.
The data are due out at 0800 GMT on March 10.
Inflation in the central European country has been boosted
by soaring food and commodity prices in recent months as well as
hikes in energy costs, taxes, state-regulated health fees and
housing prices in January.
The inflation spike has been far bigger than the market and
the central bank had anticipated, and raised expectations that
the bank might raise interest rates once more in late March
following a February 7 quarter-point hike to 3.75 percent.
The bank has raised interest rates by 200 basis points since
late 2005, but the cost of money still remains 25 basis points
below the European Central Bank's main rate and far below the
lagging inflation indicators.
January inflation figures, published on the heels of the
latest policy tightening, bit into the bank's forecast that
rates might start coming down late this year as price pressures
abate and the price hikes disappear from the year-on-year price
comparison.
The Czech Statistical Bureau will also release detailed
fourth quarter gross domestic product (GDP) data on March 7,
breaking down a flash estimate of 6.9 percent released last
month.
"February's inflation figures and an update of GDP for the
fourth quarter 2007 are of great importance, (they will)
confirm or dismiss speculation about a rate hike," said David
Marek, chief economist at Patria Finance.
He was in line with the consensus on the monthly price rise,
and said such a result would keep the expectations of another
hike, priced in forward rate agreements, in place.
Petr Sklenar, chief economist at investment house Atlantik
FT, said weekly surveys by the Czech Statistical Office
indicated food prices have dipped, as well as fuel prices.
"The only remaining big unknown is how January's tobacco tax
rise shows up and how much this impact will be be split among
the following months," he said, adding another factor pushing
price up was a seasonal rise in holiday prices.
Analysts also on average forecast a 10 billion foreign trade
surplus for January, in data due out on March 6. They saw
full-year trade surplus at 80 billion crowns, slightly down from
2007.
** For TABLE with forecasts, click on []
(editing by David Christian-Edwards)
