Producer prices in Russia edged up 0.3 percent year-on-year in August of 2019, easing from a 1.1 percent rise in the previous month. It was the lowest producer inflation since October 2009, when deflation ended. Cost slowed for manufacturing (0.9 percent vs 2.2 percent in July) and electricity, gas, steam & air conditioning (4.9 percent vs 6.8 percent). Also, prices continued to fall for mining (-3.5 percent vs -4.4 percent), particularly coal (-8.2 percent) and crude oil & natural gas production (-6.8 percent). On monthly basis, producer prices decreased 0.6 percent, after a 2.7 percent slump in July. Producer Prices Change in Russia averaged 10.30 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 2.80 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.