MOSCOW, July 5. /TASS/. Inflation in Russia stood at 3.4% as of early July, Prime Minister Mikhail Mishustin said at a meeting with President Vladimir Putin, adding that it is not expected to exceed 5% in annual terms.

"Regarding inflation, you are perfectly aware of figures, it stood at 3.4% as of early July. In annual terms it will not exceed 5% as experts suggest," he said.

A special price monitoring system, on the food basket first of all, has been created, PM noted, adding that information sources include the federal statistics service Rosstat, the tax service, as well as respective analytical centers.