Economy

South Africa Economic Outlook

PPS Investments: CPI for July 2022

Consumer price inflation increased by 7.8% year-on-year in July 2022, up from the 7.4% year-on-year in the previous month. Inflation now averages 6.4% for the calendar year (2022) to date, which is well above the top end of the target band. Month-on-month inflation increased by 1.5%, compared to the 1.1% increase the previous month.

Growth in 2nd quarter residential building plans passed was still solid, but a slowing growth rate slowly begins to reflect rising inflation and interest rates, and renewed pressures on the economy

The release of StatsSA June residential building statistics completes the new residential building picture for the 2nd quarter of 2022. During that quarter, the numbers have held up well considering the mounting economic pressures as inflation and interest rate rise.

A big concern for the livestock value chain as FMD outbreaks persist

Breaking news on the domestic market is that Minister of Agriculture, Land Reform and Rural Development (DALRRD) announced her decision to suspend all movement of cattle in the whole country to halt the continued spread of Foot and Mouth Disease (FMD) in the country.