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Morocco’s Core Inflation Rises 0.7% Year-on-Year in August
['Jihane Rahhou', 'Mohamed Boutakrint', 'Donya Essassi']
Barlaman Today
Morocco’s core inflation index, which strips out volatile and state-controlled prices, stayed flat in August from the previous month but rose 0.7% from a year earlier, well within the central bank’s annual target of under 2%.
According to the latest report by Morocco’s statistics office (HCP), headline consumer prices inched up 0.5% from the previous month, driven by a 1.1% increase in food costs and a 0.1% rise in non-food goods.
Vegetable prices jumped 3.4%, while fruits climbed 2.8% and fish and seafood rose 2.0%.
Non-food inflation was largely pushed by higher fuel costs, which rose 0.4% in August.
On an annual basis, Morocco’s consumer price index increased 0.3%, reflecting a 0.2% rise in food prices and a 0.3% gain in non-food categories.
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