OREANDA-NEWS In early May, inflation in Russia slowed to 2.3 percent per annum, which is the lowest in Europe, Prime Minister Mikhail Mishustin said at the Russian-Chinese Business Forum in Shanghai. His words are quoted by TASS.

The head of the Cabinet of Ministers also recalled the record low unemployment rate in Russia — now it is only 3.5 percent. In this regard, Mishustin called the domestic economy resistant to the "unprecedented sanctions pressure" of Western countries.

"His [pressure] goal was to break our economy, collapse the national currency, provoke devastating inflation, hit the standard of living of ordinary citizens. We have not only survived, but also continue our progressive development," he said.

In the new conditions, Russia is systematically rebuilding logistics, as well as working to ensure the financial and technological sovereignty of the country, the prime minister added.

Earlier, the Central Bank said that annual inflation will begin to rise from May, as the low values of last summer's monthly increases come out of its calculation. In the spring, it dropped to record lows due to the effect of a high base. The regulator estimated the price increase in April at 2.31 percent, and by the end of 2023 it forecasts inflation at the level of 4.5-6.5 percent.