Producer prices in Russia stopped rising in June

MOSCOW, July 19 (Reuters) – Industrial production prices in Russia did not increase in June after four consecutive months of increases, according to data from the state statistics office.

The increase in the producer price index, which measures costs in the manufacturing sector, was 0.0% m/m in June after 3.7% in May.

In annual terms, industrial producer prices in June, according to the agency, also showed zero dynamics.

According to the results of the first half of the year, this ratio decreased by 6.7% compared to an increase of 22.4% in the same period last year.

In the mining industry, producer prices fell by 3.3% in June as compared to the previous month, after an increase of 12.2% in May. On a yearly basis, producer prices for extracted raw materials fell by 3.9% in June.

In manufacturing, the growth rate slowed down to 1.0% from 2.0% in May. In annual terms, producer prices in processing decreased by 0.9%.

In terms of electricity, gas and steam, air conditioning, producer prices increased by 0.3% in June after a decrease of 0.6% in May and increased by 16.0% year-on-year.

In terms of water supply, sewage disposal, organization of waste collection and disposal, prices fell by 0.5% against an increase of 0.2% a month earlier. Year on year, this indicator increased by 13.4%.

At the end of last year, industrial producer prices in Russia fell by 3.3% after increasing by 28.5% in 2021. (Daria Korsunskaya. Editor Dmitry Antonov)