Producer Price Index in Russia

Russia's industrial producer price index (PPI) measures the change in the prices at which producers sell industrial goods on the domestic market. Published by Rosstat, its aggregate covers all industry: mining, manufacturing, energy and water.

Each month (around the 15th-20th) Rosstat issues an express release with the closed month's index based on preliminary data. It publishes the monthly change (versus the prior month) and the year-on-year change (versus the same month a year earlier) for the industrial aggregate.

It is a leading gauge of cost pressures in industry and can foreshadow moves in consumer inflation. In Russia the PPI is highly sensitive to commodity prices (oil, gas, coal) and to the rouble exchange rate.

High volatility owing to the large extractive component: month-to-month swings usually reflect crude, gas and the rouble rather than underlying pressures. The figure is preliminary and is revised in later, more detailed releases by sector.