July inflation brings relief, but pressure points still expected ahead
Jacobs said it may need to reassess its oil price assumptions, which project Brent crude to average $82/bbl in 2026, and revise its July inflation projections upwards.
Inflation cools in July Tertia Jacobs, Treasury Economist and Fixed Income Specialist at Investec, told The Citizen that the headline inflation rate came in lower than expected in July, easing to 4.“Nevertheless, the Sarb’s adverse scenario – based on oil at $100 per barrel and inflation remaining above 5% for an extended period – does not currently represent our baseline, especially following July’s downside surprise (which would have been the case if the outcome had been in line with our forecast).
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