Producer Prices in Russia
Russia - Producer Prices
Inflation jumps to five-month high in April
In March, consumer prices rose 0.8% over the previous month, accelerating modestly from March’s 0.6% rise and marking the largest increase since January 2019. According to Rosstat, the overall upturn was spearheaded by higher prices for food products. Meanwhile, prices for non-food products rose at a milder pace in April, whereas prices for services remained virtually stable from the previous month.
Inflation jumped to 3.1% in April, from 2.5% in March, marking the highest reading since November 2019. That said, annual average inflation continued to trend down at the outset of Q2, coming it at 3.6% in April, from 3.8% in March.
Commenting on the result, Dmitry Dolgin, chief economist at ING, noted:
“[The] acceleration of CPI appears temporary, as the exhaustion the effects of agro inflation and RUB depreciation, combined with mounting disinflationary pressure of demand, should bring Russian CPI back on the downward path in 2H20, provided no new shocks take place […] This is unlikely to prevent Bank of Russia from making at least one 50 bp cut, especially if the fiscal stance remains conservative”.
FocusEconomics panelists see inflation ending 2020 at 4.2%, which is up 0.7 percentage points from last month’s forecast. For 2021, participants project inflation to end the year at 3.4%.
Russia - Producer Prices Data
|Inflation (PPI, annual variation in %)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||6.23||0.13 %||Dec 30|
|Exchange Rate||62.03||-0.12 %||Dec 30|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
May 19, 2020
According to a preliminary estimate released by Rosstat on 19 May, GDP grew 1.6% in annual terms in Q1 2020, decelerating from Q4 2019’s 2.1% expansion.
May 8, 2020
Merchandise exports dived 19.1% year-on-year and totaled USD 28.1 in February (January: -2.6% year-on-year).
May 7, 2020
The IHS Markit Russia Services Business Activity Index nosedived to 12.2 in April, from 37.1 in March, marking the lowest result since the series began in October 2001.
May 7, 2020
In March, consumer prices rose 0.8% over the previous month, accelerating modestly from March’s 0.6% rise and marking the largest increase since January 2019.
April 30, 2020
The Russia IHS Markit Manufacturing PMI nosedived to an all-time low of 31.3 in April, from 47.5 in March.