Highlights

  • SA: The CPI survey indicated that inflation is turning the corner, rising 6.6% y/y in January from 6.8% in December. December retail trade sales expanded 0.9% y/y, more or less in line with expectations.
  • SSA: Mozambique’s woes continue as 4Q16 GDP plunged -0.7% y/y, seasonally adjusted. Mozambique headline inflation dropped to 20.6% y/y in January, while Namibia headline inflation surprised on the upside coming in at 8.2% y/y.
  • Global: Global inflation in January edged higher in the US (2.5% y/y), UK (1.8% y/y) and China (2.5% y/y) as energy prices were increasingly pronounced.

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