A rogue tiger, heatwaves and a really bad Kaizer Chiefs, we so need a reprieve of cooling inflation, but Eskom ...

[View in browser]( [Mail & Guardian]( M&G Mornings | Wed 18 Jan   In the early hours of this morning, we will get the first economic data print out that could go a long way in shaping how the country’s economy performs this year. Economists are expecting South Africa’s inflation numbers to continue their downward trajectory, evidence of further taming of the inflationary dragon that has been a global affliction since the Covid-19 pandemic. Inflation averaged about 6.8% last year, higher than the 4.6% in 2021, according to a note from Nedbank. The bank expects inflation to ease throughout this year, averaging about 5.4% for the year. In response to last year’s inflationary pressures, our dutiful and reliable South African Reserve Bank raised borrowing costs by 350 basis points, which cut spending by consumers exposed to mortgages, car repayments and credit cards. Given that consumption makes up about 60% of the economy, I think we could do without a repeat — no matter the merits and lack thereof of having an economy largely dependent on consumption. (It’s bad.) If the projections of low inflation this year is proved true, it will come as a welcome relief for a country experiencing a heatwave, a tiger on the loose somewhere in Gauteng, hours upon hours of darkness, and a disastrous Proteas and Kaizer Chiefs. The only thing going for my colleagues, Paddy Harper and Khaya Koko, is that London is Red and by the end of the year, maybe the whole country with Arsenal as champions. Who knows, but we are eight points clear. Across the world, inflation is cooling despite the European War. So we are moving in line with most of the developed world. But there’s the little matter of Eskom, which, if it continues to fail to meet demand, will reinvigorate food inflation, a big contributor to the overall inflation basket. Yesterday, the president’s think tank on the crisis released their statement on the state’s response to our electricity crisis, promising an easing of our affliction. These promises now carry little weight for most of us — we’ve heard it all before. But, being the eternal optimist that I am, should the crisis de-escalate as promised, we could be set for a slowing down of these insanely rising prices of all manner of goods. If not, well we will once again decouple with the rest of the world and see inflation remain. Ron Derby | Editor-in-Chief [@RonDerby]( [‘You are sabotaging us ahead of 2024 elections,’ ANC tells Eskom]( ANC MPs blurred party and state lines by summoning Eskom’s top brass to a caucus meeting Join thousands of South Africans who want a more just South Africa. Read past party lines, past the bluster and the distortion. Get the best reporting, analysis and commentary that is factual, balanced and fair with uninterrupted access to all Mail & Guardian content online. 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