Industrial PPI of 4.6% y/y and 2.8% m/m is reported for August by RosStat. While in y/y terms the producer prices’ growth moderated, m/m advance of the indicator continued for the fourth consecutive month. Previously in H1 overall producer prices grew by 3.5% y/y. To compare, in August 2012, PPI stood at 6.6% y/y and in H1/12 at 6.1% y/y.
In y/y terms the PPI moderated due to extraction costs growth halving to 9% y/y in August. Manufacturing and utilities producer price growth stable at 2% y/y and 10% y/y in August (1.9% y/y and 13% y/y in July).
CPI inflation in Russia in August remained flat at 6.5% y/y and decelerated to 0.1% in m/m terms. Inflation in y/y terms stayed unchanged after reaching 8-month low in July, above the expectations of analysts surveyed by Bloomberg (6.4% y/y) and Reuters (0.0% m/m).
Previously in May annual monthly inflation hit 21-month high at 7.4% y/y. Central Bank of Russia (CBR) expects that the price growth is going to gradually decline to the target 5%-6% range by the end of the year.
Related Articles
Egypt and Russia sign supplementary agreements to advance El-Dabaa nuclear plant
Egypt and Russia have signed a supplementary intergovernmental agreement to push forward the El-Dabaa nuclear power plant project in Egypt, Al Arabiya reported on July 8, citing a statement from ... more
Non-performing loans hit historic low in CESEE, but early warning signs emerge, says EBRD
Non-performing loans (NPLs) in central, eastern and south-eastern Europe (CESEE) fell to their lowest levels since the global financial crisis in 2024, but early indicators suggest rising risks ... more
China’s LNG imports slump for eighth month
China’s LNG imports have fallen on a year-on-year basis for the eighth consecutive month, Bloomberg reported on June 26 citing data from Kpler. Imports of the super-chilled fuel in the world’s ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
16 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago