An activist of the rally arranged by Trade Unions and public movements of car drivers holds a sign that shows a gasolene station. The inscriptin reads: "The price."
Photo: Andrei Stenin
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Falling Prices of Manufacturers Broke Records in Russia
The manufacturers’ prices shed 6.6 percent in Russia in October of 2008, RIA Novosti reported with reference to Russian statistics committee Rosstat.
The decline was the record one. The prices of Russia’s manufacturers had been growing till 2008. The trend changed in September of 2008 in the wake of the global financial collapse that trimmed prices for lots of raw materials.
The oil prices and the prices for accompanying gas suffered the heftiest losses, having sunk 25.8 percent in October. Fuel oil lost 7.7 percent and kerosene oil lowered 8.9 percent. The decline of similar extent was registered in the metallurgical industry.
But it wasn’t enough to curtail the inflation. Consumer prices gained 0.9 percent in October, having surged 12 percent from early this year to the middle of November.
The prices of Russia’s manufacturers are by far not the only ones affected by global financial turmoil. In the United States, for instance, they sank 2.8 percent over the month, hitting the record of 1947.
www.kommersant.com
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