The average annual Consumer Price Index (CPI) increased by 0.9% at the end of 2024, compared to 2023, according to the latest report from the High Commission for Planning (HCP),
This rise was driven by a 0.8% increase in the food product index and a 1.2% rise in the non-food product index.
“The variations observed for non-food products range from a 1.3% decrease in Health to a 3.4% increase in Restaurants and Hotels,” the report explains. It further adds, “Based on this, the underlying inflation indicator would have risen by 2.4% in 2024 compared to 2023.”
According to HCP experts, the most significant increases in the annual CPI were recorded in Laâyoune (3.0%) and Guelmim (2.2%), while Dakhla and Safi both saw a 1.7% rise.
In December 2024, the Consumer Price Index (CPI) saw a decrease of 0.2% compared to the previous month. This change was primarily due to a 0.2% drop in the food products index, while the non-food products index remained stable, the source reports.
The decline in food prices between November and December 2024 was mainly driven by a 3.9% drop in “Vegetables,” a 2.3% drop in “Fruits,” and a 0.2% reduction in “Mineral waters, soft drinks, and fruit and vegetable juices.”
“On the other hand, prices for ‘Meats’ rose by 1.0%, ‘Oils and fats’ by 0.8%, ‘Milk, cheese, and eggs’ by 0.6%, and ‘Coffee, tea, and cocoa’ by 0.3%. For non-food products, the increase was mainly driven by a 0.3% rise in ‘Fuel prices,'” the report further specifies.
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