Stats SA set to release July inflation print
Year-on-year inflation eased marginally to 5.1% in June from the previous month, where it stood at 5.2%, and is predicted by some experts to have fallen again in July.
Picture: Eyewitness News
JOHANNESBURG - Statistics South Africa (Stats SA) is set to release the July inflation print on Wednesday morning as South African consumers continue to grapple with the high cost of living.
Year-on-year inflation eased marginally to 5.1% in June from the previous month, where it stood at 5.2%.
At this rate, inflation is currently sitting at a six-month low. Some experts expect inflation to have fallen again in July.
Economists at the Bureau for Economic Research predict it will drop below the 5% mark for the first time in a year.
Investors are expected to keep a keen watch on the latest announcement by Stats SA.
This inflation print is expected to give some hints about the future of the interest rate path expected in the upcoming meetings by the South African Reserve Bank (SARS)’s Monetary Policy Committee (MPC).
The next MPC meeting is in September, where the five-member committee will discuss the country’s policy rates, which remain at a 15-year high.
While there’s optimism about the slowing inflation, inflation expectations remain high, again adding risks to the outlook.