ECONOMIC WEEK AHEAD: Inflation rate expected to slow to 5.1%
Sharp drop in the petrol price in June is likely to be the main factor behind the moderation
21 July 2024 - 15:40
It will be a busy week in terms of data releases, but the focus will be on inflation, both consumer and producer.
The Nedbank Group Economic Unit expects consumer inflation — the data will be released on Wednesday — to ease to 5.1% year on year in June from 5.2% in May. This will be due to a slower monthly increase of 0.1% from 0.2%, with the moderation mainly due to a decrease in fuel prices. The petrol price fell sharply by a monthly 4.1% in June, helped by a steady price of Brent crude oil, combined with a significant (3.3%) appreciation of the rand...
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