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CZECHIA: Industrial PPI Inflation Stays At +1.0% Y/Y In June

CZECHIA
  • Czechia's industrial PPI inflation stayed at +1.0% Y/Y in June, missing the consensus forecast of +1.1% by a narrow margin. On a sequential basis, prices fell 0.3% M/M versus -0.2% expected. Agricultural PPI fell by 7.5% Y/Y, while prices in construction rose by 2.2% Y/Y and service producer prices rose by 3.5% Y/Y.
  • The cabinet holds its weekly meeting today and will discuss an update of the state energy strategy to account for the planned nuclear energy procurement as well as the implementation of various rules associated with the EU Green Deal.
  • ING wrote that bets on Czech monetary easing may be overdone and they see potential for an upward revision in the CNB's PRIBOR path in the new forecast that will be released in August.
  • Czechia will sell up to CZK1bn of 2043 floating bonds at an auction today.

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