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CZECHIA: Gov't Discusses Ongoing Floods, Industrial PPI Falls Short Of Consensus

CZECHIA
EM BulletBulletGlobalEmerging Market NewsCentral and Eastern EuropeRegionCzechia
  • Czechia has been hit by intense flooding, with the government set to hold a special meeting tonight to decide whether the announce a state of emergency. In the meantime, the Central Flood Committee at the Environment Ministry will take stock of the situation this morning. Prime Minister Petr Fiala said that "we cannot say that the worst is behind us."
  • Czechia's industrial PPI decelerated to +1.1% Y/Y in August from +1.7% prior, printing below the consensus forecast of +1.5%. On a monthly basis, factory-gate industrial prices fell by 0.4% M/M versus -0.1% expected. Elsewhere, agricultural producer prices fell by 0.5% Y/Y, construction work prices rose by 1.7% Y/Y and service producer prices in business rose by 3.4% Y/Y.
  • President Petr Pavel will meet with Finance Minister Zbynek Stanjura at 10:00BST/11:00CEST to discuss the draft state budget for 2025. Stanjura expects that government to finalise the budget as soon as this week, before giving it a formal go-ahead next week and sending it to parliament.
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  • Czechia has been hit by intense flooding, with the government set to hold a special meeting tonight to decide whether the announce a state of emergency. In the meantime, the Central Flood Committee at the Environment Ministry will take stock of the situation this morning. Prime Minister Petr Fiala said that "we cannot say that the worst is behind us."
  • Czechia's industrial PPI decelerated to +1.1% Y/Y in August from +1.7% prior, printing below the consensus forecast of +1.5%. On a monthly basis, factory-gate industrial prices fell by 0.4% M/M versus -0.1% expected. Elsewhere, agricultural producer prices fell by 0.5% Y/Y, construction work prices rose by 1.7% Y/Y and service producer prices in business rose by 3.4% Y/Y.
  • President Petr Pavel will meet with Finance Minister Zbynek Stanjura at 10:00BST/11:00CEST to discuss the draft state budget for 2025. Stanjura expects that government to finalise the budget as soon as this week, before giving it a formal go-ahead next week and sending it to parliament.