Russia: Prices of Manufacturers Up 25.2 Percent in January

Kommersant ^ | 02./21/08

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Prices of Manufacturers Up 25.2 Percent in January

The index of Russia’s manufacturers’ prices soared 25.2 percent on year in January, RIA Novosti reported the data of Federal Statistics Service.

The growth in manufacturers’ prices was twice as much as the increase in consumer prices (12.6 percent). The prices of manufacturers gained 3.7 percent in January vs. December of 2007.

In the fuel and energy sector, coal and peat prices jumped 13.4 percent and the prices for crude oil and accompanying gas gained 4.3 percent. At the same time, the decline of 13.2 percent was noted in extraction of non-ferrous metal ores and the prices for certain oil products went down as well. The prices for residual oil, for instance, shed 5.6 percent, petrol prices lost 4.5 percent.

When it comes to processing industries, the prices of chemical production were fueled by the 15.5-percent increase in prices for other basic inorganic chemicals, the 12.8-percent growth in prices for fertilizers and nitrogen compounds, the 8.0-percent growth in prices for plant protection chemicals (pesticides) and other agrochemical products and the 6.5-percnet growth in prices for basic chemicals.

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Must be all that oil money.