The pace of Russia’s economic growth slowed in the second quarter of 2024, official data showed Friday, amid concerns over stubborn inflation and warnings of “overheating.”
Gross domestic product (GDP) dipped from 5.4% in the first quarter to 4% from April to June, the lowest quarterly result since the start of 2023 but still a sign the economy is expanding.
Inflation meanwhile showed no signs of easing, with consumer prices rising 9.13% year-on-year in July — up from 8.59% in June and the highest figure since February 2023, according to data from the Rosstat statistics agency.
Precisely none of Russia’s self-reported economic measures can be trusted at this point. They’ve been heavily manipulating them since the beginning of 2022, at the very latest.