Russia's producer prices dropped 6.3 percent year-on-year in November 2019, following a 4.9 percent fall in the previous month. It was the third consecutive monthly decline in producer prices and the sharpest since August 2009, as cost went down further for manufacturing (-3.8 percent compared to -2.5 percent in October) and mining & quarrying (-16.2 percent compared to -4 percent). Also, electricity, gas, steam & air conditioning inflation eased to 1.3 percent from 1.7 percent in the prior month. On a monthly basis, producer prices fell 0.8 percent, after declining 0.2 percent in October. Producer Prices Change in Russia averaged 10.06 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. source: Federal State Statistics Service
Producer Prices Change in Russia is expected to be 3.60 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 2.60 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.