PPI increased by 0.7%, m-o-m, and 1.3%, y-o-y, in October, that is slightly higher than our expectations and market consensus (0.6%). The increase was mainly due to the shift to winter prices of electricity charged to enterprises. A drop of prices in manufacture of coke and refined petroleum products (following price development in world markets) and manufacture of chemicals influenced PPI in the opposite way.
Agriculture producer prices rose by 0.2% in October, primarily due to higher prices of milk, cereals, cattle for slaughter, potatoes and fruit in particular.
(David Marek)