{"id":16329,"date":"2023-04-19T16:15:03","date_gmt":"2023-04-19T16:15:03","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/russias-monthly-producer-price\/"},"modified":"2023-04-19T16:16:33","modified_gmt":"2023-04-19T16:16:33","slug":"russias-monthly-producer-price","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/russias-monthly-producer-price\/","title":{"rendered":"Russia&#8217;s monthly producer price index rises for second month running in March"},"content":{"rendered":"<p>(Reuters) -Costs in Russia&#8217;s manufacturing sector rose for the second month running in March, data from the state statistics service Rosstat showed on Wednesday, driven by a sharp jump in the cost of mining, extraction and some petroleum product production. <\/p>\n<p>The producer prices index (PPI), a measure of costs in the manufacturing sector, increased 0.9% in March. In February, the index rose for the first time month-on-month since April 2022. <\/p>\n<p>On an annual basis, the PPI fell 10.7% in March, Rosstat said. In the same month last year, the index had risen 26.9% year on year. <\/p>\n<p>Prices for ores and concentrates in some mineral extraction doubled in March, compared with February, while certain types of petroleum products for manufacturing industries saw significant increases, the data showed.     <\/p>\n<p>A separate set of Rosstat data showed that consumer prices rose at a slower pace in the week to April 17, increasing by 0.04% after a rise of 0.11% in the previous week.<\/p>\n<p>Since the start of the year, consumer prices have risen 1.88%, a slower pace than in the same period of 2022, Rosstat said. Prices soared in the weeks after Russia sent tens of thousands of troops into Ukraine in February last year. <\/p>\n<p>Russia&#8217;s economy ministry said inflation was running at 2.82% on an annual basis as of April 17, down from 3.15% a week ago.<\/p>\n<p>The central bank has become more hawkish this year, warning of the inflationary risks a widening budget deficit, weaker rouble and labour shortages pose. <\/p>\n<p>&#8220;Despite a gradual recovery in demand and improved consumer sentiment, price growth remains moderate,&#8221; the bank said on Tuesday. &#8220;At the same time, inflation expectations remain elevated and pro-inflationary risks still prevail over disinflationary ones.&#8221;<\/p>\n<p>The bank is next due to set interest rates on April 28.     <\/p>\n<p>Russia&#8217;s annual inflation rate in 2022 was 11.9%, almost three times the government&#8217;s official 4% target. The central bank forecasts inflation will be 5-7% this year, falling to 4% in 2024.<\/p>\n<p> (Reporting by Alexander Marrow and Darya Korsunskaya; Editing by Jonathan Oatis)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/russias-monthly-producer-price\/employees-are-seen-next-to-lead-and-zinc-ore-crusher-at-novoangarsky\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3I0O5-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3I0O5-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -Costs in Russia&#8217;s manufacturing sector rose for the second month running in March, data from the state statistics service Rosstat showed on Wednesday, driven by a sharp jump in the cost of mining, extraction and some petroleum product production. The producer prices index (PPI), a measure of costs in the manufacturing sector, increased 0.9% [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":16330,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[1223],"class_list":["post-16329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3I0O5-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/16329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=16329"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/16329\/revisions"}],"predecessor-version":[{"id":16355,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/16329\/revisions\/16355"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/16330"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=16329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=16329"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=16329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}