OREANDA-NEWS. August 14, 2009. According to Rosstat, producers' prices in Russia were up 1.8% MoM in July, bringing the YDT figure to +11.9%, reported the press-centre of OTKRITIE FC.

View: Even though the key driver behind PPI growth was the increase in oil prices (prices in mineral extraction were also up, +7.1%), we believe this is a positive development. In contrast to the previous few months, producers' prices were growing across the board, including most areas in the manufacturing sector.

We believe that this could be an indication of a stabilization in demand, and for that reason we treat the figures as positive news.