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Search For Solutions To Eskom Crisis Continues, Inflation Data Eyed

SOUTH AFRICA
  • President Cyril Ramaphosa called on Eskom to exercise caution in applying the 18.65% electricity-tariff hike granted by the national energy regulator, as many consumers are already struggling amid high costs of living. Separately, the Department of Public Enterprises said it is doing everything possible to minimise load-shedding and will take urgent steps to that effect. Officials are looking for quick solutions to the ongoing energy crisis, with the Daily Maverick reporting that political tensions within the ANC are obstructing these efforts.
  • Minister of the Department of Small Businesses Development Stella Ndabeni Abrahams said that the government will soon unveil the details of an energy relief package for small, medium, informal and micro (SMME) sectors.
  • South Africa will report December CPI and core CPI data at the top of the hour, with consensus looking for a headline inflation of +7.3% Y/Y versus +7.4% prior. A BER survey published earlier this week showed that inflation expectations for this year rose to +6.1% in 4Q2022.

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