From BOFIT at the moment (as translated by Google):
In keeping with the Russian Statistical Institute’s preliminary estimate, Russia’s GDP grew by 4% year-on-year in April-June. Progress has clearly slowed down in current months. In June, (seasonally adjusted) manufacturing declined in business and building. In June, the long-continued progress additionally slowed down in consumption-driven sectors. The sharp enhance within the common actual month-to-month wage has slowed down and the extent of the common wage has remained virtually unchanged in current months.
Though the expansion in shopper demand has slowed down, home manufacturing and imports have developed much more poorly. The escalation of provide issues has additional accelerated inflation. In July, shopper costs rose on the quickest month-to-month fee since spring 2022. In keeping with the Russian Central Financial institution, seasonally adjusted and annualized inflation was already 16% in July. In comparison with July of the earlier yr, shopper costs rose by 9%. Inflation was partially accelerated by the rise within the costs of regulated municipal providers at the start of July.
Graph of manufacturing:
Supply: BOFIT, accessed 8/15/2024.
