Producer prices in Russia increased 4.1 percent year-on-year in June of 2019, easing further from an 8.6 percent rise in the previous month. It was the lowest producer inflation since July of 2017, as cost slowed for manufacturing (3.2 percent from 5.1 percent in May), particularly coke & petroleum products (1.2 percent from 3.6 percent); and mining & quarrying (5.7 percent from 20 percent), namely crude oil & natural gas production (4.7 percent from 24.7 percent). On the other hand, prices rose faster for electricity, gas, steam & air conditioning (5.9 percent from 5.5 percent) while inflation was steady for waste management & remediation activities (at 4.5 percent). On a monthly basis, producer prices declined 0.6 percent, down from a 1.8 percent jump in May and compared with market consensus of a 1.5 percent fall. Producer Prices Change in Russia averaged 10.41 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.