The decline in industrial prices so far slows down consumer inflation // Price monitoring

In July, compared to June 2022, producer prices of goods decreased by 2.2%, in annual terms, their growth rates decreased to 6.1% against 11.3% in June, Rosstat estimated. The deflation of selling prices in the industry is in line with the expectations of companies (see Kommersant of June 29) and has been observed for the third month in a row, and although its pace is slowing down, in July the decline in the indicator turned out to be much stronger than expected (the consensus of the Interfax agency was minus 0.7 % for July).Among the extractive industries, in terms of month to month, price growth (1.1%) was observed only in the production of oil and gas, and among the manufacturing industries – only in the production of medicines (0.3%), machinery and equipment (0 .6%) and drinks (0.1%). “The main deflationary factor for the overall index was metals and other minerals. Here, price pressure is easing globally due to fears of a recession and a slowdown in economic activity in China,” commented on Rosstat’s report on the selling prices of companies from the analysts of the telegram channel Solid Numbers. According to them, prices for July … .

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