Food and energy as major contributors to rising prices have come under focus, especially as consequences over conflict in Europe spill over to the rest of the world in 2022. On the left, we look at the food and energy weights within Consumer Price Index basket calculations. This varies from market to market and we can try and determine those which will see higher inflation, forcing central banks to take action. On the right we have energy consumption split by fuel source compared across various economies. Those more reliant on oil and gas could also see more outsized inflation readings compared to other markets more reliant on other fuel sources.