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Fiala & Babis Trade Accusations Over Food Price Hikes

CZECHIA
  • Prime Minister Petr Fiala (ODS) crossed swords with opposition leader Andrej Babis (ANO) in a televised debates broadcast by TV Nova. The two leaders clashed over food prices, trading accusations over who is to blame for their increase (Babis founded the Czech food and agriculture conglomerate Agrofert). The issue has become increasingly salient amid the government's attempts to pressure domestic retail chains into keeping food prices in check during the traditional January repricing of goods and services, which may have important implications for the inflation outlook.
  • Czechia's industrial PPI accelerated to +0.8% Y/Y in November from +0.2% prior versus +1.2% expected. Prices fell 0.4% M/M after a 0.1% decline in October and expectations of a flat reading.
  • This was the last notable data release out of Czechia ahead of this Thursday's rate decision, with 17/23 economists polled by Bloomberg currently expecting a 25bp cut, which would inaugurate an easing cycle.
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