Macro-Economic Update | Ahead of Inflation | July 2021

The National Bureau of Statistics (NBS) is expected to release its inflation report for July 2021 next week. We expect a slightly lower food inflation of 21.39%YoY (vs 21.83%YoY in June 2021) and an overall headline inflation of 17.57% YoY in July.

Macro-Economic Update- Ahead of Inflation – July 2021

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