Industry production prices rose 0.3 percent in March. Industry PPI increased 5.3 percent on a year-to-year basis in comparison with the 5.6 percent increase in February. The price development is in line with our expectations and follows the slowdown in consumer prices. The price increase was driven mainly by foodstuffs and after a break period also by refinery products and coke. Slower pace of price growth suggests temporary nature of inflation and makes it thus less probable that the CNB will continue to raise the interest rates. However, agricultural prices that continue to grow at a high rate still remain a risk factor.