Producer prices in Russia increased 10.9 percent year-on-year in March of 2019, accelerating from a 9 percent rise in the previous month. It was the highest producer inflation since December of 2018, as cost advanced faster for electricity, gas, steam & air conditioning (4.9 percent from 4.7 percent in February); water supply, sewerage, waste management & remediation activities (4.5 percent from 2.8 percent) and mining & quarrying (24.4 percent from 14.9 percent), namely crude oil & natural gas production (31 percent from 18.6 percent), metal ore (19.9 percent from 16.2 percent). On the other hand, prices slowed for manufacturing (7.4 percent from 7.8 percent), particularly coke & petroleum products (10.2 percent from 10.8 percent) and chemicals & chemical products (8.8 percent from 9.9 percent. On a monthly basis, producer prices went up 0.9 percent, following a 0.1 percent gain in February. Producer Prices Change in Russia averaged 10.46 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.