Producer prices in Russia increased 8.6 percent year-on-year in May of 2019, slowing from a 10.7 percent rise in the previous month. It was the lowest producer inflation since April of 2018, as cost went up at a softer pace for manufacturing (5.1 percent vs 6.7 percent in April), particularly coke & petroleum products (3.6 percent from 7.4 percent); mining & quarrying (20 percent vs 25.2 percent), namely crude oil & natural gas production (24.7 percent from 33.1 percent) and for electricity, gas, steam & air conditioning (5.5 percent vs 5.8 percent). Meantime, waste management & remediation activities cost rose 4.5 percent, the same pace as in April. On a monthly basis, producer prices went up 1.8 percent, following a 0.5 percent gain in the prior month. Producer Prices Change in Russia averaged 10.45 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 5.10 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 3.00 in 12 months time. In the long-term, the Russia Producer Prices Change is projected to trend around 2.00 percent in 2020, according to our econometric models.