What happens in the US has an influence on exchange rates and financial markets all over the world. We know that the US inflation rate is high and to fight it the Federal Reserve Bank first ended their policy of quantitative easing and then started to raise interest rates. The hope is for a soft landing, which means that they bring inflation under control without dampening economic activity or job creation too much. With the previous 75 basis point interest rate increase, the markets began to think that inflation in the US would soon start to fall and that the Fed will raise interest rates in smaller increments throughout the rest of this year. Thus, everyone was listening carefully to Jerome Powell's speech at the big gathering of central bankers at Jackson Hole last Friday.

* The Economics Minute is supported by the NWU Business School.

Wat in die VSA gebeur het ‘n invloed op wisselkoerse en finansiële markte reg oor die wêreld. Ons weet dat die Amerikaners se inflasiekoers hoog is en om dit te beveg het die Federale Reserwebank eers hulle beleid van kwantitatiewe verruiming beëindig en toe begin om rentekoerse te verhoog. Die hoop is vir ʼn sagtelanding, wat beteken dat hulle inflasie onderbeheer bring sonder om ekonomiese aktiwiteit of werkskepping te veel te demp. Met die vorige 75 basispunte rentekoers verhoging het die markte begin dink dat inflasie daar binnekort gaan daal en dat die Fed rentekoerse in kleiner inkremente gaan verhoog deur die res van hierdie jaar. Almal se ore was dus gespits met Jerome Powell se toespraak by die groot saamtrek van sentrale bankers by Jackson Hole die afgelope Vrydag.

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

Statistics South Africa released July's CPI and PPI figures this week and the inflation rates were even higher than everyone expected. In July, consumer price inflation rose by 7.8% on a year-on-year basis and producer price inflation by 18%. In both cases, the major drivers were increases in the prices of food and energy. Whether July will be the turning point is difficult to say.

* The Economics Minute is supported by the NWU Business School.

Statistieke Suid-Afrika het hierdie week Juliemaand se VPI en PPI syfers bekend gemaak en en die inflasiekoerse was selfs hoër as wat almal verwag het. Verbruikersprysinflasie het in Juliemaand met 7,8% gestyg op ʼn jaar-op-jaar grondslag en produsenteprysinflasie met 18%. In albei gevalle was die groot drywers stygings in die pryse van voedsel en energie. Of Juliemaand die draaipunt gaan wees is moeilik om te sê.

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

Yesterday Saftu and Cosatu had their #NationalShutdown campaign and most analysts described it as nonsensical. The issues such as load shedding and rising living costs are real, but is it necessary to create awareness about them? Nor are these problems solved by protests. But I think there is a bigger socio-economic and political picture to be seen. South African trade unions are in a struggle for survival for various reasons and this can still affect us all.

* The Economics Minute is supported by the NWU Business School.

Gister het Saftu en Cosatu hulle #NationalShutdown veldtog gehad en meeste ontleders het dit as onsinnig beskryf. Die vraagstukke soos beurtkrag en stygende lewenskoste is werklik, maar is dit nodig om bewustheid daarvan te skep? Dit is ook nie probleme wat deur betogings opgelos word nie. Maar ek dink daar is tog ʼn grotere sosio-ekonomiese en politieke prentjie om te sien. Suid-Afrikaanse vakbonde is vir verskillende redes in ʼn oorlewingstryd en dit kan ons almal nog beinvloed.

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

The second quarter's labour force survey surprised friends and foes with a small decrease in the unemployment rate from 34.5% in the first quarter to 33.9%. The broad unemployment rate, which includes discouraged workers, has also declined. It appears that there was an increase of 648,000 jobs from the first to the second quarter.

* The Economics Minute is supported by the NWU Business School.

Die tweede kwartaal se arbeidsmagopname het vriend en vyand verras met ‘n klein afname in die werkloosheidskoers vanaf 34,5% in die eerste kwartaal na 33,9%. Ook die uitgebreide werkloosheidskoers wat onmoedigde werkers insluit, het afgeneem. Dit blyk dat daar ʼn toename was van 648 000 werke van die eerste na die tweede kwartaal.

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

Ek het gister begin deur te praat van ligpunte in die ekonomie, maar hulle skyn nie in hierdie week se  aanwysers nie. Statistieke Suid-Afrika maak Dinsdag die tweede kwartaal se werkloosheidskoers bekend, Woensdag verbruikersprysinflasie vir Juliemaand en Donderdag Produsenteprysinflasie ook vir Juliemaand. Die Reserwebank se leidende aanwyser van die sakesiklus word ook Dinsdag bekend gemaak. Die verwagting is allerwee dat dinge sleg gaan lyk.

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

I started yesterday by talking about rays of light in the economic darkness, but they will not be shining in this week's indicators. Statistics South Africa will announce the second quarter unemployment rate on Tuesday, consumer price inflation for July on Wednesday and producer price inflation also for July on Thursday. The Reserve Bank's leading indicator of the business cycle is also released on Tuesday. The expectation is that things will look bad.

* The Economics Minute is supported by the NWU Business School.