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SOUTH AFRICA: South Africa's CPI Data Due This Week

SOUTH AFRICA
  • African National Congress's (ANC's) Dada Morero was elected Mayor of Johannesburg with the support of the Economic Freedom Fighters (EFF), ActionSA, Patriotic Alliance (PA) and several smaller parties. He was running against Democratic Alliance (DA) caucus leader Belinda Kayser-Echeozonjoku. Eyewitness News reported that ActionSA may take the council speaker position after helping elect Morero to power.
  • President Ramaphosa signed the Electricity Regulation Amednment Act into law in attempt to increase competition and reduce the costs of energy. Separately, parliament is preparing to discuss a proposal that would boost electricity tariffs by around 40% next year. Democratic Alliance's (DA's) Kevin Mileham argued that the impact of such a tariff hike "is horrendous for South Africans already struggling under a cost of living crisis."
  • South Africa's CPI data, due Wednesday, is the local highlight this week. Headline inflation may have cooled to +4.8% Y/Y in July from +5.1% prior.

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