Inflation Oops, did we just say that?*
Inflation, like the snow goose, continues to wing its way south, passing the 5.1% mark YOY for March, and is predicted to roost, briefly, below 5% some time after May before turning around and heading back up. Food inflation has hit 1.3%, dangerously close to deflation for the retailers, but providing some measure of relief for the embattled punters. A bumper crop of maize and the relative strength of the rand (which itself may head south as investors flee to safer havens after the Greek Tragedy) are the usual suspects in this case, with the part of Kaiser Sozay being played by Gill Marcus and her endearing propensity to slash rates.
Comment: Add to these favourable numbers the madness of the *2010 Trade Tatler World Cup Soccer Tournament™, and we could be in for a mini consumer boom in the next couple months, harking us back to those last heady days of ’07.