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Wednesday, December 7, 2022

Morocco’s inflation does not show any signs of falling

The consumer price index in Morocco rose by 1.8% in April 2022 compared to the previous month, said the High Commission for Planning (HCP) in its latest note on Friday.

This increase comes as a result of an increase of 3.0% in the food index, and a rise of 0.9% in the non-food index, added HCP.

The inflation indicator rose by 0.8% month-on-month, and 4.4% year-on-year, added the same source.

For the period between March and April 2022, the increases in food products were mainly noticed in Fruit by 12.3%, Fish and seafood by 9.8%, Oils and fats by 5.0%, Vegetables by 2.9%, Meat by 1.8%, Bread and cereals by 1.4%, and Coffee, tea and cocoa by 0.3%.

On the other hand, prices dropped by 0.5% for Milk, cheese and eggs. For non-food products, while the price of Fuels rose by 13.2%, added HCP.

The largest increases in the CPI were recorded in Al-Hoceima with a rise of 3.6%, followed by Fez with 3.3%, Dakhla with 2.3%, Oujda, Rabat, Safi and Errachidia with 2.0%, Kenitra and Tangier with 1.9%, Marrakech, Meknes and Laayoune with 1.6%, Tetouan with 1.5%, Casablanca and Beni Mellal with 1.3% and Agadir with 1.2%.

Compared to the same month of the previous year, the consumer price index recorded an increase of 5.9% by the end of April, as a result of the increase in the index of food products of 9.1%, and non-food products of 3.7%.

For non-food products, the variations range from stagnation for the Health index, and an increase of 12.4% for transport, HCP added.

The inflation indicator, which excludes products with volatile prices and products set at public fixed tariffs, rose by 0.8% by the end of April, up compared to the last month, and by 4.4% compared to April 2021, according to the same source.

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