The pace of inflation in Russia accelerated yet again in May as officials warn huge public spending to support the military offensive on Ukraine is overheating the economy. Increases in government expenditure have supported Russia’s economy in the face of a barrage of Western sanctions but also triggered surging prices and labor shortages in many sectors not connected to the campaign. Inflation was running at 8.3% on an annual basis in May, Russia’s statistics agency Rosstat said on Friday — the highest rate since February 2023. That was up from 7.8% at the end of April and far ahead of the co…