Page 55 - RusRPTJan21

4.2.2​ PPI dynamics
As consumer prices increased in the last months of 2020 so did producer price index of inflation (PPI) as the economy slowed and the devaluation over the summer feed through to the exchange rate.
PPI broke back into positive territory in October and rose to 2.4% by November. Analysts expect the upward price pressure to continue in the first part of 2021.
4.3​ Industrial sectors and trade 4.3.1​ Producers PMI
The seasonally adjusted IHS Markit Russia Services Business Activity Index fell fractionally in December to 48.0 from 48.2 in November​, as Russia’s economic recovery from this year’s annus horribilis is still struggling to gather some momentum, Markit reported on December 31.
The services sector previously has been an engine of growth, fuelled partly by the explosion of online retail as Russia’s ​e-commerce booms​. However, the lockdowns and return of stagnating real incomes, as well as both
55 ​RUSSIA Country Report​ January 2021 ​ ​www.intellinews.com