0.3% Increase in Consumer Price Index in September (HCP)

The consumer price index posted, during the month of September 2020, an increase of 0.3% compared to the previous month, said the High Planning Commission (HCP).

This variation is the result of the increase of 0.5% of the index of food products and of 0.3% of the index of non-food products, explained the HCP in a briefing note on the consumer price index for the month of September 2020.

The increases in food products noted between August and September 2020 mainly concern “vegetables” with 3.7%, “fruits” with 2.1%, “milk, cheese and eggs” with 0.8%, “meats” and “coffee, tea and cocoa” with 0.1%, noted the HCP, adding that prices fell by 4.7% for  “fish and seafood” and by 0.2% for “Oils and fats”. For non-food products, the decrease mainly concerned “fuel” prices of 1.0%.

The most significant increases in the consumer price index were recorded in Safi and Settat with 1.4%, in Kénitra, Guelmim and Beni-Mellal with 0.9%, in Fez and Marrakech with 0.6%, in Meknes and Errachidia with 0.5% and in Agadir with 0.4%, said the HCP, noting that a drop was recorded in Al-Hoceima with 0.7% and in Tetouan with 0.5%.

Compared to the same month of the previous year, the consumer price index recorded an increase of 1.4% during the month of September 2020, as a consequence of the rise in the food index of 2.9 % and that of non-food products of 0.5%, noted the same source, adding that, for non-food products, the variations range from a drop of 1.1% in “leisure and culture” to an increase of 1.5% in “education”.

Under these conditions, the underlying inflation indicator, which excludes products with volatile prices and products with public prices, have experienced a decrease of 0.1% during the month of September 2020 compared to the month of August 2020 and an increase of 0.2% compared to September 2019, concluded the HCP.