Consumer Watch – February 2021

The ABSA PMI gained 0.6 points to 50.9 points in January after two months of decline. Vehicle sales in January of 34 784 units were -11.9% lower y-y and -7.2% m-m, extending the recovery in sales. CPI inflation increased to 3.2% y-y in January, while PPI inflation increased at a higher rate of 3.5% y-y. The SACCI business confidence index was stable and improved by 0.2 points to 94.5 points. In March motorists can expected to pay R15.63/litre for petrol, representing a 2.8% y-y increase in the petrol price. The rand ended the month of February 3.3% stronger y-y and -0.7% weaker m-m at R15.17/USD.