Page 37 - RusRPTJun21

Industrial production in Russia rose 1.1% year-on-year in March of 2021,
after a revised 3.2% drop in the previous month and compared to market expectations of a 1% decrease.
It was the first monthly gain in 2021, as manufacturing production rebounded (4.2% vs 1.7% in February) while electricity, gas and steam; air conditioning output rose faster (11% vs 9.0%).
4.2 Inflation
Russia's annual consumer price inflation in April 2021 slowed down to 5.5%
from 5.8% year on year in March, according to the latest data from RosStat statistics agency, and in line with expectations.
Russia's weekly consumer price inflation on the week ending May 17 remained at 0.1%, the same as for the preceding week, according to the data from the RosStat statistics agency.
As reported by bne IntelliNews, inflation remains in focus after the key interest rate hike by the Central Bank of Russia (CBR).
While annual inflation was seen to have Error! Hyperlink reference not valid., inflationary expectations remain high and the latest weekly inflation and April's data suggest that price growth could still accelerate in the coming months.
Still, the latest weekly reading gives Sberbank CIB analysts confidence in the
37 RUSSIA Country Report June 2021 www.intellinews.com