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Annual inflation for Jan ’22 came in at 4.6%, an increase from the 2.7% in Jan ’21 and marginally higher than the 4.5% for Dec ’21. This is the highest annual inflation print since Apr ’19 but is also lower than the 4.7% reported in Jan ’19. Prices increased 1.1% m/m, faster than the 0.4% m/m increase reported for Dec ’21. The m/m increase is seasonal, due to price adjustments at the start of the calendar year.