Producer prices in Russia increased 9.5 percent year-on-year in January of 2019, easing from a 11.7 percent rise in the previous month. It was the lowest producer inflation since April, as cost slowed for manufacturing (9 percent from 10.3 percent in December), namely coke & petroleum products (13.4 percent from 23.4 percent); chemicals & chemical products (12.2 percent from 13.3 percent); machinery & equipment nes (1 percent from 5.6 percent) and textiles (5 percent from 6.8 percent); and mining & quarrying (12.7 percent from 20.7 percent), in particular crude oil and natural gas production (13.7 percent from 26.9 percent). On the other hand, prices rose faster for electricity, gas, steam & air conditioning (4.2 percent from 3.5 percent) and water supply, sewerage, waste management & remediation activities (4.7 percent from 3 percent). On a monthly basis, producer prices fell 3.3 percent, the same as in December. Producer Prices Change in Russia averaged 10.47 percent from 2005 until 2019, reaching an all time high of 33.70 percent in July of 2008 and a record low of -12.30 percent in July of 2009.
Producer Prices Change in Russia is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Russia to stand at 3.60 in 12 months time. In the long-term, the Russia Producer Prices Change is projected to trend around 3.20 percent in 2020, according to our econometric models.