Page 41 - RusRPTDec22

4.2.1 CPI dynamics
Annual inflation continued to moderate to 12.5% y/y in beg-November vs 12.6% y/y in October, confirming our view that household consumption has remained at the downward pattern. In the first week of November, weekly inflation came at 0.01%, driven by higher fruit and vegetable prices, while non-food and service prices returned to their deflationary trend.
4.2.2 PPI dynamics
Producer prices in Russia rose 0.8% year-on-year in October of 2022, the lowest since October 2020 and slowing from the 3.8% in the prior month.
Producer prices fell sharply for mining (-6.3% vs 0.7% in September) and rose at a softer pace for manufacturing industries (2.5% vs 4.7%) and electricity, gas, steam, and air conditioning (4.8% vs 5%). In the meantime, inflation was steady from the prior month for water supply and wastewater disposal (at 4.9%).
41 RUSSIA Country Report December 2022 www.intellinews.com