We found consumer and economic indicators released in October to have been a mixed bag, with some stability emerging in key metrics. Business Confidence rebounded in September and PMI was relatively flat. CPI inflation was flat in September at 4.9% y/y, with PPI inflation easing. While the expected drop in petrol is positive, diesel prices are expected to rise in November.
The Rand lost ground to the US Dollar in October closing at R14.72. A win for consumers in October was the addition of new items to the VAT-free list starting April 2019.