We provide a review of key consumer-related statistics in 2021. The rand weakened considerably, ending the year on R15.89/USD.
Successive oil price increases and supply chain disruptions fuelled inflationary pressures. The higher oil prices and weaker rand contributed to the spike in SA fuel prices. The cost to refuel a midsized petrol engine car increased from R778 in January to R1 046 in December (implying inflation of 38.3%).
The global supply chain was disrupted with shipping curtailed by a shortage of containers, which contributed to inflationary pressures.
Retail sales, vehicles sales, and food and beverage sales recovered from the low 2020 base.
Building plans passed increased by 18.5% y-y, but Private Sector Credit Extension growth remained soft, despite the improvement in business confidence and consumer confidence.
