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Annual inflation for Dec ’21 came in at 4.5%, an increase from the 2.4% in Dec ’20 and higher than the 4.1% for Nov ’21. This is the highest annual inflation print since Apr ’19, but is also lower than the 4.7% reported in Jan ’19. This brings average annual inflation for ’21 to 3.6%, higher than 2.2% reported for ’20 but slightly below the average of 3.7% in ’19.