Page 63 - RusRPTJul23

4.2.2 PPI dynamics
Producer prices in Russia rose 3.8% y/y in September of 2022, the same as in the previous month and remaining the lowest increase since December last year. Main upward pressure came from electricity, gas, steam & air conditioning (5%), followed by water supply (4.9%), manufacturing (4.7%) and mining (0.7%). On a monthly basis, producer prices went down 0.8%, following a 1% fall in August.
Price growth inertia is intensified by high and unanchored inflation expectations of households and businesses. In January, households’ inflation expectations slightly abated, though remaining close to six-year highs.
63 RUSSIA Country Report July 2023 www.intellinews.com