Southern Africa: Impact of global oil prices

Recent increases in global oil prices will have an impact on economies in the region, although it will be softened by the weaker US dollar, analysts told IRIN. John Loos, a noted economist with one of South Africa's largest commercial banks, ABSA, told IRIN that because oil prices had peaked at almost US $50 a barrel before gradually easing off this week, a "gradual uptick in inflation" could be expected in the region. Brent crude oil was trading at US $40.77 a barrel on Tuesday afternoon.