Bloomberg News

Russian Producer Prices Advance More Than Estimated in October

November 15, 2011

Nov. 15 (Bloomberg) -- Russian producer prices, an early indicator of inflation, rose more than economists estimated in October, led by the mining and manufacturing industries.

Prices of goods leaving factories and mines grew 17.5 percent from a year earlier after an 18 percent advance in September, the Federal Statistics Service in Moscow said in an e-mailed statement today. The median forecast of nine economists surveyed by Bloomberg was 17.1 percent.

Factory-gate prices rose 1.7 percent in October from the previous month after a 0.7 percent decline in September, the service said. Economists predicted an increase of 0.5 percent, according to the median of nine estimates in a separate Bloomberg survey.

--With assistance from Zoya Shilova in Moscow. Editors: Paul Abelsky, Alan Crosby

To contact the reporter on this story: Alena Chechel in Moscow at achechel@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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