January inflation printed at 4.4% y/y, slightly ahead of our 4.3% forecast, but nevertheless below the 4.5% consensus. The main driver behind the fall was a drop in the fuel price, and the consequent easing of transport inflation to 4.4% y/y, from 6.4% in December. Core inflation, which excludes food and energy, moderated to 4.1% […]
Our 4th quarter 2017 City of Cape Town Sub-Regional House Price Indices continue to show some of the most expensive regions’ house price growth to be slowing noticeably. But with very expensive home values in recent years in Cape Town encouraging a greater search for affordability, some of the City’s more affordable housing regions appear […]
Despite recently positive Mining Sector production growth, the FNB Mining Towns House Price Index continues to point to underperformance in these towns’ housing markets relative to the overall national picture. For the full article, click here.
The FNB Holiday Towns House Price Index, comprising towns (both coastal and inland) whose housing markets are deemed to be strongly driven by holiday home demand, has had a reasonably good run since around 2013, and the last 2 quarters of 2017 suggest they weren’t quite done yet. For the full article, click here.
December retail trade sales far exceeded our expectations, rising 5.3% y/y, but down -2.6% m/m on a seasonally adjusted basis. General dealers, clothing and “other retailers each added 1.4 pps (4.2 pps cumulatively), jumping 3.3% y/y, 5.9% and 14.7% respectively. In what may be tentative signs of a recovery in durable goods sales, furniture retailers […]