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Inflation & Retail Sales Data Take Focus

SOUTH AFRICA
  • South Africa will report November CPI at the top of the hour (08:00GMT/10:00SAST) after headline inflation accelerated to +5.9% Y/Y in October. The median estimate in a Bloomberg survey is +5.4%. At 11:00GMT/13:00SAST Statistics SA will publish October retail sales data. The South African Reserve Bank (SARB) aims to anchor inflation and inflation expectations at the mid-point of its +3.0-6.0% Y/Y target band.
  • BusinessTech reported that Eskom has seemingly reduced its diesel use over the past few weeks, moving to a load factor of only 3.5% for its diesel generators from an average of 35% in November. Energy analyst Pieter Jordaan said that the utility "faced a near-miss" over Black Friday when it was close to running out of emergency reserves.
  • Reuters run a report noting that South Africa "will launch a bidding process for an extra 2,500 megawatts (MW) of nuclear power by March" amid efforts to ease the worst power cuts on record. However, the new units would only become operational in a decade.
  • The Constitutional Court struck down parts of the Refugees Act that would assume the applications of asylum seekers who have not renewed their visas within one month "abandoned".
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