Page 51 - bneIntelliNews monthly country report Russia May 2024
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4.2.2 PPI dynamics
Producer inflation in Russia edged lower to 19.1% in March of 2024 from 19.5% in February, but held above the historically-elevated 19% threshold for the seventh consecutive month. Inflation remained at soaring levels for miners (45.8% vs 46.4% in February), as the energy-intensive nature of production made the sector especially sensitive to higher fuel prices amid the country’s refining capacity crisis, lifting costs for oil and natural gas producers (62.1% vs 61.9%) and metal ore miners (33.3% vs 37.5%). In the meantime, prices also rose for manufacturers (14.6% vs 15.1%) and water treatment plants and waste disposal facilitators (2.9% vs 3.9%). On the other hand, prices were loosely unchanged for utility providers (0.8% vs 1.2%). From the previous month, producer prices jumped by 2.4%, the sharpest increase in six months.
51 RUSSIA Country Report May 2024 www.intellinews.com
