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Escalating oil prices: Heavy impact on inflation

From the latest Statistics South Africa (StatsSA) producer price data, it is clear that the shock to consumer prices of petrol price hikes is far from over. What is more, the weighting for the sub-index for “products of petroleum and coal – imported commodities”, was revised from 1,3% to 2,2%, showing the increasing burden that producers have to carry in terms of energy costs in general.

But if anything, this sub-component of the PPI underestimates the impact that motorists and fleet owners are experiencing when filling up at the pump. The recent year-on-year rise (March 2008) for 93 Octane petrol has been 38,6%, while the rand cost per barrel of crude has risen by no less than 58,8% y/y. more...

EIU Country Risk Service: Sovereign ratings

The Economist Intelligence Unit's Country Risk Service publishes regular ratings on 120 sovereigns. The ratings for most developed countries are updated bi-annually while those for emerging markets are updated on a monthly basis. The sovereign rating measures the risk of a build-up in arrears of principal and/or interest on foreign- and/or local-currency debt that is the direct commitment of the sovereign or guaranteed by the sovereign. View the latest ratings from the EIU. more...