Inflation To Moderate From Q411

We stand by our view that high commodity prices will keep inflationary pressures relatively elevated in Jordan throughout 2011. Although we expect food price inflation to keep headline CPI elevated in the coming months, underpinning our 5.5% average inflation projection for 2011, we highlight that the end of Ramadan, an increase in global grain supply from Q311, and the Central Bank of Jordan (CBJ)'s rate hike will ease inflationary pressures towards the end of the year.

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