The decline in producer prices in Russia has slowed significantly

producer Prices of industrial products in Russia decreased in may 2020 2.8% from the previous month, when they fell by 7.2%. Such data today leads the Federal service of state statistics.

In the annual comparison index fell in may to 14.1% after a decline of 8 percent in April.

For the first 5 months of this year industrial prices in the country decreased by 10.5% (to December 2019).

last year the indicator decreased by 4.3% (December-to-December-2018), after rising by 11.7% in the previous year.

Recall that, according to Rosstat, consumer prices in Russia from 9 to 15 June 2020 increased by 0.1% compared to the previous week, when it was recorded zero inflation, and since the beginning of the year it reached to 2.5%.

In April, consumer prices in Russia increased by 0.8% compared to the previous month when they rose 0.6%. While yoy inflation in April accelerated to 3.1% after 2.5% in March.

Over the past year, consumer prices rose by 3% (December to December 2018). Thus, 3-percent inflation rate in 2019 was the second lowest value of this indicator for all history of modern Russia. The absolute minimum was recorded at the end of 2017 and 2.5% in 2018, prices increased by 4.3%.

the Ministry of economic development, according to the updated macroeconomic forecast expects annual inflation to end this year at 3.5%. For its part, the Bank of Russia assumes that inflation for the year will amount to 3.8-4.8% and will be close to 4% thereafter.

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