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Industrial PPI Prints Below Expectations

CZECHIA
  • Prime Minister Petr Fiala announced that a Czech-led scheme of ammunition purchases may allow to obtain around 1.5mn artillery shells for Ukraine within a year, after already helping secure 500,000 rounds. Fiala noted that about 20 countries joined the initiative to plug gaping holes in Ukraine's firepower as it is trying to repel intensifying Russian attacks.
  • Factory-gate industrial prices in Czechia were unchanged from a year ago in March, missing expectations of an 0.3% uptick. In addition, prices fell 0.1% M/M versus +0.3% expected. Agricultural prices were down 13.0% Y/Y, construction work prices rose 1.6% Y/Y and service producer prices in the business sector rose 4.1% Y/Y.
  • Hospodarske Noviny reported that that the Labour Ministry proposed an amendment to the Labour Code, which would allow employers to pay workers in euros rather than korunas.

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