Producer prices in Russia increased 1.1 percent year-on-year in July of 2019, easing from a 4.1 percent rise in the previous month. It was the lowest producer inflation since April of 2019, as cost slowed for manufacturing (2.2 percent from 3.2 percent in June) and water supply, sewerage, waste management & remediation activities (3.9 percent from 4.5 percent). In addition, prices of mining & quarrying fell 4.4 percent, after increasing 5.7 percent in June, as cost of both coal (-2.3 percent) and crude oil & natural gas production (-8.3 percent) decreased. On the other hand, prices rose faster for electricity, gas, steam & air conditioning (6.8 percent from 5.9 percent). On a monthly basis, producer prices declined 2.7 percent, following a 0.6 percent drop in June. Producer Prices Change in Russia averaged 10.36 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 4.50 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 2.70 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.