Producer prices in Russia fell 3.3% in 22y

MOSCOW, Jan 25 (Reuters) – Russian industrial producer prices are set to fall 3.3% in 2022 after rising 28.5% in 2021, Rosstat said.

Producer prices have declined for eight consecutive months since May 2022. The indicator fell 0.8% on a monthly basis in December, after 0.4% in November and 2.5% in October.

The last time producer prices declined was in 2019, when the figure fell by 4.3%.

In mining, producer prices are set to decline by 15.3% in 2022, including coal mining – 39.3%, oil and natural gas production – 18.3%, metal ore mining – 19.6%. In the commodities sector, producer prices fell 3.1% in December after rising 1.3% in November.

In manufacturing industries, industrial producer prices decreased by 0.9% last year. In the manufacturing industries, the most significant decline in prices occurred in the production of coke and petroleum products – 20.7%, in the metallurgical industry – 13.6%, in the production of chemicals and chemical products – 12.4%.

In the last month of the year, the decline in prices in manufacturing came down to 0.7 per cent from 0.8 per cent in November.

In the sectors providing electricity, gas and steam, air conditioning, producer prices increased by 6.9% in 2022 and 1.7% in December.

Prices in the sectors of water supply, sanitation, waste collection and disposal increased by 10.2% last year and 5.1% in December. (Daria Korsunskaya. Editor Marina Bobrova)