The South African Consumer and Producer Price Index retreated to new lows this year. CPI and PPI fell 80bps and 60bps respectively in April. Following a period of decline, business confidence posted a mild recovery in April, rising 1.1 points. The ZAR fell below the ZAR13/USD, closing the month at ZAR 13.13/USD. Motorists can expect some relief at the pumps in June (19c/litre and 20c/litre decrease in petrol and diesel prices respectively). The SARB announced that it would keep the repo rate steady at 7.0%.