How to create a temporary table using VALUES in PostgreSQL

I am learning PostgreSQL and trying to figure out how to create a temporary table or a WITH declaration that can be used in place of regular table, for debugging purposes.

I looked at the documentation for CREATE TABLE and it says VALUES can be used as a query but gives no example; the documentation for the VALUES clause linked therein does not have an example either?

So, I wrote a simple test as follows:

DROP TABLE IF EXISTS lookup;
CREATE TEMP TABLE lookup (
  key integer,
  val numeric
) AS
VALUES (0,-99999), (1,100);

But PostgreSQL (9.3) is complaining about

syntax error at or near "AS"

My questions are:

1. 
   

   How can I fix the statement above?

   
   


2. 
   

   How can I adapt it to be used in a WITH block?

   
   

Thanks in advance.