RT.com
23 May 2023, 19:43 GMT+10
Consumer price growth has slowed to 2.3% in May, Mikhail Mishustin announced
Inflation in Russia has continued to slow through May, Prime Minister Mikhail Mishustin told a Shanghai business forum on Tuesday, noting that the indicator is currently the lowest in Europe.
"As of early May, inflation slowed to 2.3% year-over-year. This is the lowest figure among all European countries," Mishustin stated. The indicator continued to fall after a sharp drop to 3.51% in March from 10.99% in February. It is currently well below the government target of 5% for the year.
In comparison, Switzerland recorded 2.6% inflation in April, the second-lowest after Russia. The region's largest economy, Germany, saw prices grow at a rate of 7.2%, France - 5.9%, Italy - 8.2%. Annual inflation for the Eurozone was recorded at 7%.
Mishustin also announced that Russia's unemployment rate had dropped to a record low of 3.5%.
The premier stated that the Russian economy on the whole was thriving despite the pressure of Western sanctions, with credit institutions, foreign exchange and stock markets functioning normally due to the well-developed national payment and settlement infrastructure.
He also noted that the government had been implementing large-scale programs to modernize infrastructure in the regions to help local businesses.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Business Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Business Sun.
More InformationNEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
New Delhi [India], July 13 (ANI): Union Minister of State (Independent Charge) for Science and Technology Jitendra Singh on Sunday,...