NOW Ep 131: South Africa’s consumer crunch
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Are South African consumers past the worst of the fuel shock? Household budgets have been hit by higher fuel prices, rising inflation and pressure on real wages. But fuel prices are starting to fall. The risk is timing. Will relief arrive before households are forced to cut back further? Host Jeremy Maggs unpacks the consumer outlook with Annabel Bishop, Investec chief economist, on No Ordinary Wednesday.
Chapters
- 00:00 Introduction
- 01:23 What is the consumer telling us?
- 02:32 What does the consumer signal for South Africa’s growth this year?
- 04:11 What is squeezing households most?
- 06:46 How hard has the fuel shock hit households?
- 09:15 Ahead of the SARB decision, how have consumers handled a year of high rates?
- 11:41 Does inflation block rate relief, or does weak growth keep it alive?
- 13:49 Why do fuel prices fall slowly, and what does that mean for inflation?
- 15:35 Are wages keeping pace, or is real income still being squeezed?
- 16:56 What did South Africa learn from the last major El Niño episode?
- 21:34 Six months from now, what could lift consumers?
