Russian economic growth dips in second quarter as inflation rises [Video]

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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 percent in the first quarter to four percent 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 percent year-on-year in July — up from 8.59 percent in June and the highest figure since February 2023, according to data from the Rosstat statistics agency.

The Kremlin has heavily militarised Russia’s economy since sending troops into Ukraine in February 2022, spending …