The National Bureau of Statistics (NBS) is expected to release its inflation report for January 2022 next week. We expect lower food inflation of 16.80%YoY (vs 17.37%YoY in December 2021) and moderation of overall headline inflation to 15.41% YoY in January 2022.
Macro-Economic Update- Ahead of Inflation – January 2022 (1)
