Consumer Watch – October 2019

Indicators released in October remained net negative for consumers. SACCI Business Confidence recovered to 92.4 points in September following the August decline to 89.1 points. Manufacturing activity dropped further in September as the ABSA PMI shed -4.7 points to 41.6 points. Fuel prices softened for November as petrol and diesel fell by -13c/litre and -16c/litre to R15.44/litre and R14.14/litre. In September, both CPI and PPI inflation moderated to 4.1%, following respective -20bps and -40bps declines. The rand depreciated by -2.6% against the dollar on a y-y basis, closing the month of October at R15.11/USD. On a m/m basis the rand remained relatively flat.