In February, Russia experienced the fastest YoY decline in producer prices since May 2020, with a drop of 7.5%. The fall was due to sanctions from Western countries and the slowing economies in Asia, which resulted in lower prices for Russian commodities. Although mining and extractive industries were hit hardest, manufacturing and electricity providers also saw a decline in costs. Despite the yearly decrease, producer prices rose by 0.9% MoM, the first increase since April 2022.