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SOUTH AFRICA: Inflation Expected To Hit Target Mid-Point On Eve Of SARB Decision

SOUTH AFRICA
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  • CPI inflation in South Africa may have cooled to the SARB's target mid-point of +4.5% Y/Y in August from +4.6% prior, according to Bloomberg consensus. Meanwhile, core inflation (CPI ex-food & energy) may have ticked lower to +4.2% Y/Y from +4.3% recorded in July. The data is due for release at 09:00BST/10:00SAST and a return of headline inflation to the SARB's target mid-point would support the case for the widely anticipated 25bp rate cut tomorrow. South African central bankers will also closely monitor the Fed's monetary policy decision tonight and a cut would encourage them to follow suit. For a more detailed analysis see our preview of tomorrow's SARB decision.
  • Separately, July retail sales data will cross the wires at 12:00BST/13:00SAST. The median estimate in a Bloomberg survey is +2.8% Y/Y after a 4.1% expansion in June.
  • TimesLIVE reported that national executives of the African National Congress (ANC) will give party officials from Gauteng another chance to present their case for replacing the Democratic Alliance (DA) as the main force in the provincial coalition.
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  • CPI inflation in South Africa may have cooled to the SARB's target mid-point of +4.5% Y/Y in August from +4.6% prior, according to Bloomberg consensus. Meanwhile, core inflation (CPI ex-food & energy) may have ticked lower to +4.2% Y/Y from +4.3% recorded in July. The data is due for release at 09:00BST/10:00SAST and a return of headline inflation to the SARB's target mid-point would support the case for the widely anticipated 25bp rate cut tomorrow. South African central bankers will also closely monitor the Fed's monetary policy decision tonight and a cut would encourage them to follow suit. For a more detailed analysis see our preview of tomorrow's SARB decision.
  • Separately, July retail sales data will cross the wires at 12:00BST/13:00SAST. The median estimate in a Bloomberg survey is +2.8% Y/Y after a 4.1% expansion in June.
  • TimesLIVE reported that national executives of the African National Congress (ANC) will give party officials from Gauteng another chance to present their case for replacing the Democratic Alliance (DA) as the main force in the provincial coalition.