Food latest publications
April's inflation was the highest figure for the year but we believe it is a transitory increase and that at the end of the year it will return to the Bank of the Republic's target of 3% per year. Inflation recently published for April surprised the rise and stood at 0.5% per month above expectations.
In July, monthly inflation stood at -0.13% MoM, below market expectations. As a result, annual inflation grew by 3.12%, 8 bps down on the previous month’s reading.
Consumer prices increased 0.55% (mom) in July below our estimate and market consensus (0.9% vs. 1%), leading the annual figure to rise to 15.85% from 15.39% in June. The downside surprise came from the lower food inflation than our expectation, while the worsening in core inflation continued as annual core inflation reached…
The Central Bank (CBRT) kept the entire set of its interest rate corridor unchanged. The Bank also preserved the hawkish tone by over looking the expected disinflationary impacts of the fall in energy prices and partial correction in food prices. We expect the Bank to keep the average funding rate close to 12% until the ne…
Sustainable food: key to ending world hunger and coping with environmental challenges. Consumer preferences, technology and policies must align with long-term objectives. Banks can play a crucial role while enhancing relationships with conscious consumers.