Weak U.S. inflation offers good news for South Africa and consumers

After months of negative economic data, softer U.S. inflation and stronger South African production data last week provided some positive news for businesses. Last week’s key theme stemmed from below-consensus U.S. consumer inflation data for October, according to the Bureau of Economic Research at Stellenbosch University. While inflation remains high, an unexpected downside could encourage the Federal Reserve to start slowing the pace of rate hikes. “Further rate hikes are expected, but the mere possibility of a slower pace in December has caused significant market volatility. Markets are also hoping that China will eventually act…

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