UK denies Russia’s economic reports, says inflation is rising twice as fast as expected

The UK authorities have denied the economic balances defended by the Kremlin and have assured that inflation in Russia is growing at twice the forecasts set by the Central Bank for 2024 due to the “enormous expenditure on the war” started by President Vladimir Putin against Ukraine. “Russia claims that Russian inflation is stable and economic growth is strong. The reality is that the enormous expenditure on Putin’s illegal war in Ukraine is increasing inflation and creating unsustainable growth,” the British Ministry of Defense has assured in its latest Intelligence report. Thus, from London they have pointed out that “the war with Ukraine is overheating the Russian economy,” which saw inflation rise by 8.3 percent year-on-year last May, “twice the Central Bank’s forecast for 2024.” In this context, high inflation increases interest rates and makes Russia “a bad place to invest.” “Russia is taking money from its national wealth fund to finance the growing war costs,” the Ministry of Defense has said, thus reiterating a position it has been defending for months.