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Weekly Economic and Market Focus

19 February 2021: Global daily coronavirus infections decreased for the fifth consecutive week on ongoing vaccine roll-outs

Key highlights

  • The World Health Organization notes that the number of new cases has declined for a fifth consecutive week, dropping by almost half, from more than 5 million cases in the week of 4 January 2021.

  • The US producer price inflation posts the biggest gain since the global financial crisis as the cost of goods and services surge.

  • In the UK, the consumer inflation rate increases to 0.7% in January 2021, from 0.6% in December 2020, on the back of rising food and furniture prices.

  • South Africa’s consumer inflation increases by 3.2% year on year in January 2021, from 3.1% in December 2020, slightly short of market expectations.

  • Oil prices extend gains as US oil companies shut massive production amid freezing temperatures across the country, while gold continues to fall as risk sentiment improves.

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Weekly Economic and Market Focus - 19 Fe
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