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Pretoria - The effect of the Soccer World Cup on local consumption expenditure was still unclear at this stage, the Reserve Bank says in its October Monetary Policy Review.
The lack of clarity was raising doubts about the sustainability of expenditure, particularly in the light of weak credit extension.
The effect of the World Cup has however been evident in the retail sector, as indicated by the significant rise in June and July figures.
Figures from Statistics SA showed that growth in retail sales grew meaningfully during June and July. Growth in retail trade sales fell to 4.6% in August from 8.0% in July.
The bank was more certain about the impact of the World Cup on inflation. ".. the impact of the 2010 Fifa World Cup tournament on inflation was very limited and mostly reversed soon after the event," the review said.