Inflation in Morocco fell sharply in 2024 to around +0.9%, after having reached +6.1% in 2023, with lower food inflation, according to Morocco’s High Commission for Planning (HCP).
Core inflation, which excludes prices subject to government intervention and volatile-price products, is also significantly lower than the rate recorded in 2023, at +2.4% instead of +5.9%, the HCP said in its recent economic outlook.
In the fourth quarter of 2024, the rise in consumer prices was +0.7% in annual variation, marking a clear slowdown compared with the +1.3% recorded in the third quarter, the HCP added.
This trend reflects both the decline in non-food prices to +0.7%, from +1.4% a quarter earlier, and the drop in food prices to +0.7%, from +1%, the same source stressed.
Conversely, core inflation is said to have risen slightly to +2.5%, after +2.3% one quarter earlier.
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