Post Inflation Report | July 2021

The National Bureau of Statistics (NBS) reported a 17.38% YoY increase
in headline inflation for the month of July (vs. 17.75% YoY in June),
21bps below our projection of 17.57% YoY. This was mainly driven by a
slower growth in food inflation (21.03% YoY), compared to 21.83% YoY
in June. There was however an uptick in the core index (13.71% YoY),
compared to 13.09% YoY in June.

Kindly find attached the full report.

Post inflation – July 2021


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