Page 34 - RusRPTFeb22

4.2.2 PPI dynamics
Russia's producer inflation eased to 28.5% year-on-year in December of 2021 from a 5-month high of 29.2 percent hit in the previous month. Costs rose at a slower pace for mining (59.2 percent vs 62.3 percent) and manufacturing (23.5 percent vs 23.7 percent). Meanwhile, the prices of utilities rose at a faster pace (5.8 percent vs 2.9 percent). On a monthly basis, producer prices rose 0.8 percent, accelerating from a 0.4 percent increase one month earlier.
4.3 Industrial sectors and trade 4.3.1 Producers PMI
Composite PMI hints at an upward trend in economic activity in January, standing at 50.3 vs. 50.2 in December. At the same time, the CBR's news proxy for economic activity is at odds, showing a downturn. Below we attempt to look into current trends and possible reasons for the divergence.
The momentum in January's PMI is predominately positive, with manufacturing PMI printing 51.8 vs. 51.6 in December and services PMI climbing to 49.8 from December's 49.5. This has resulted in a composite PMI of 50.3, the healthiest figure since September's 50.5.
34 RUSSIA Country Report February 2022 www.intellinews.com