In Russia, inflation at the beginning of May became minimal in Europe

Inflation slowed down to 2.3% in annual terms by the beginning of May. This was announced by Prime Minister Mikhail Mishustin, speaking at a plenary session of the Russian-Chinese Business Forum in Shanghai. This is the minimum figure among all European countries, he said.

Other indicators also demonstrate the stability of the Russian economy. The unemployment rate is at a record low of just 3.5%.

“Last year we reached a new historical maximum in grain harvest – 157 million tons. Significantly surpassing even the achievements of the Soviet Union. Now Russia abundantly provides domestic demand for grain, sugar, vegetable oil, meat and fish,” the prime minister boasted.

Consumer prices in the euro area in April increased by 7% in annual terms, according to preliminary data from the Statistical Office of the European Union. Thus, inflation accelerated compared to 6.9% in March

Consumer price growth, excluding food and energy, slowed to 5.6% yoy from 5.7% in March.

Inflation in Russia in April amounted to 0.38%, and in annual terms, the figure slowed down to 2.3%. Such data was provided by Rosstat in reporting on the consumer price index.

Price growth of 0.5% or more was recorded in 33 regions of Russia. The Arkhangelsk region suffered the most inflation with an indicator of 1.3% – this is due to a rise in the cost of services by 2.3%. Among products, prices for granulated sugar increased in April compared to March 2023 (+2.1%). In 50 regions of Russia, the rise in price amounted to 0.1-3.0%, in 25 – by 3.1-6.6%, and in eight regions sugar fell in price by 0.1-1.9%.

Prices also increased for pork and live and chilled fish (+1.5%), lamb, boneless pork and frozen whole fish (+1.5%), fruit juices (+0.9%) and other food categories. The most noticeable increase in prices for fruits and vegetables. For example, onions rose in price by 22.6%, white cabbage – by 22.5%, pears – by 8.2%, lemons – by 5%. Buckwheat fell in price by 2.6%, chicken eggs – by 1.5%, vermicelli – by 1.3%.

The European Commission (EC) called core inflation one of the three key risks for the EU economy, Vedomosti wrote. Two other threats are the development of a banking crisis and a new round of price rallies in the energy markets, according to the latest quarterly report of the EC.