Consumer Watch – September 2019

Indicators released in September painted a grim picture for the month. Manufacturing activity dropped in August as the ABSA PMI declined to 45.6 points. SACCI Business Confidence reached its lowest point since 1985 in August 2019 at 89.1 points following a -2.9-point decline. Petrol and diesel are expected to increase by 18c/litre and 25c/litre to R15.57/litre and R14.30/litre respectively in October. In August, PPI inflation moderated to 4.5% while CPI inflation increased to 4.3%.The rand remained flat in September against the dollar closing the month at R15.17/USD, weaker by -6.8% y-y.