The month of July yielded a net negative Consumer Watch. The Consumer Confidence Index slipped to -9 in 2Q17, while PMI fell below the neutral mark. The South African Consumer and Producer Price Index came in lower in June. Sighting a deterioration in SA’s growth outlook, the SA Reserve Bank cut repo rates by 25bps. The ZAR averaged ZAR13.12/USD in July, closing the month weaker at ZAR 13.19/USD. The Department of Energy announced a petrol and diesel price hike of 19c/litre and 29c/litre for August.
