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JOHANNESBURG, July 22 (Reuters) - The South African rand was steady in early trade on Wednesday as investors awaited data that is likely to show consumer inflation accelerated further in June, driven mainly by higher transport and fuel costs.
• At 0547 GMT, the rand traded at 16.4625 against the dollar, little changed from its previous close of 16.47.
• Statistics South Africa is due to publish June inflation data at about 0800 GMT. Analysts polled by Reuters expect annual inflation to accelerate to 4.7% from 4.5% in May.
• Nedbank's economists forecast headline consumer inflation to accelerate further to 4.9% in June, driven primarily by a sharp increase in transport costs stemming from a surge in fuel prices amid higher global oil prices.
• As a net fuel importer, South Africa is heavily exposed to the spike in global energy prices.
• The statistics agency will also release May retail sales figures around 1100 GMT.
• Investec economist Lara Hodes forecasts retail sales growth will edge up to about 1.7% year-on-year from 1.3% in April, though pressure on disposable incomes is expected to keep consumer spending subdued.
• South Africa's benchmark 2035 government bond was slightly firmer in early deals, as the yield fell 1.5 basis points to 8.545%.
(Reporting by Anathi Madubela; Editing by Sherry Jacob-Phillips)
