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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH AFRICA
MNI (London)
SOUTH AFRICA DEC CPI +0.4% M/M; NOV +0.3% M/M
SOUTH AFRICA DEC CPI +7.2% Y/Y (FCST +7.3%); NOV +7.4% Y/Y
SOUTH AFRICA DEC CORE CPI +4.9% Y/Y (FCST +5.1%); NOV +5.0% Y/Y
- South African annualised CPI edged down in December, cooling by 0.2pp (vs 1pp expected) to +7.2% y/y. Prices continued to increase on the month, accelerating by +0.4% m/m after +0.3% m/m in November.
- Headline CPI has remained elevated in the +7.2% to +7.8% range for seven consecutive months now.
- Positive developments were made in December, with annualised goods inflation easing (+10.1% y/y after 10.4%) as well as services (+4.3% y/y after +4.5% in Nov).
- This fed into the 0.1pp moderation in core CPI to +4.9% y/y, against expectations of a 0.1pp uptick.
- The December data adds to the likelihood of the SARB opting for a smaller 25bp hike at their Jan 26 meeting as the bank tightens beyond its assumed neutral rate in order to tame sticky inflation.
Source: Statistics South Africa
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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