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