Africa Data Response South Africa Consumer Prices (Mar.) South Africa’s headline inflation rate crept up to 3.2% y/y in March but this was almost entirely due to energy price effects that will become more pronounced this quarter. In contrast, underlying... 21st April 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Mar.) The latest jump in Nigerian inflation, to 18.2% y/y in March, will probably reinforce the views of the hawkish minority on the central bank’s MPC. Our base case is that the majority of MPC members... 15th April 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Mar.) The sharp rise in South Africa’s manufacturing PMI in March suggests that the sector bounced back quickly as virus containment measures were eased. But the recovery will continue to be held back by a... 1st April 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Feb.) The fall in South Africa’s headline inflation rate, to 2.9% y/y, in February almost certainly rules out a hike in interest rates at Thursday’s MPC meeting. We think that the repo rate will remain... 24th March 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Feb.) The latest jump in Nigerian inflation, to 17.3% y/y in February is unlikely to prompt the central bank to tighten monetary policy as concerns about a weak recovery mount. 16th March 2021 · 2 mins read
Africa Data Response South Africa GDP (Q4) The slowdown in the pace of South Africa’s recovery in Q4 was less sharp than expected, but the economy is unlikely to gather much momentum over the coming quarters and we still expect GDP to be... 9th March 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Feb.) The rise in South Africa’s manufacturing PMI in February suggests that the economy bounced back from around the turn of the year, and the recent easing of lockdown measures should support activity... 1st March 2021 · 2 mins read
Africa Data Response Nigeria GDP (Q4 2020) Nigeria’s Q4 GDP data showed that a poor performance in the oil sector was more than offset by a continued rebound in the non-oil economy. While we think that some of the headwinds facing the economy... 18th February 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Jan.) The rise in South Africa’s headline inflation rate, to 3.2% y/y in January, is likely to be followed by further increases over the next few months but, with the economic recovery still struggling, we... 17th February 2021 · 3 mins read
Africa Data Response Nigeria Consumer Prices (Jan.) The latest jump in Nigerian inflation, to 16.5% y/y in January, on the back of surging food price pressures, is likely to increase pressure on the central bank (CBN) to tighten monetary policy. But as... 16th February 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Jan.) The rise in South Africa’s manufacturing PMI in January appears to hide underlying weakness in activity on the back of virus-related restrictions. Even with some signs of a break in the clouds over... 1st February 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Dec.) The further drop in South Africa’s headline inflation rate, to 3.1% y/y in December, coming alongside the recent tightening of virus containment measures supports our view that the Reserve Bank will... 20th January 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Dec.) The latest jump in Nigerian inflation, to 15.8% y/y in December, on the back of mounting food price pressures will probably take monetary easing off the table in the near term. 15th January 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Dec.) The fall in South Africa’s manufacturing PMI in December points to the recovery grinding to a halt at the end of 2020. The recent tightening of virus containment measures, and the slow and limited... 8th January 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Nov.) Another jump in Nigerian inflation, to 14.9% y/y in November, will probably be followed by elevated readings in the coming months. But as the headline rate peaks, probably in early 2021, we think that... 15th December 2020 · 2 mins read
Africa Data Response South Africa Consumer Prices (Nov.) The slight drop in South African inflation, to 3.2% y/y in November, will probably be followed by similarly soft readings in the near term. This, coming alongside a lacklustre economic recovery, means... 9th December 2020 · 2 mins read