Morocco's Consumer price index rises by 8% at end of August, HCP

The High Commission for Planning (HCP) said Wednesday that Morocco’s consumer price index rose by 8% at the end of August, up compared to the same period last year.

The rise comes as a result of the increase in the food index by 14.1% and that of non-food products by 4.0%, further stated HCP.

For non-food products, the variations ranged from an increase of 0.1% for Health to 12.8% for Transport.

Compared to the last month, the consumer price index increased by 0.3% at the end of August, added HCP.

The monthly increase comes as a result of a 1.5% rise in the food index and a 0.5% drop in the non-food index, specified HCP.

The underlying inflation indicator rose by 0.3% over one month and by 6.6% year-on-year, further stated the same source.

Additionally, the increases between July and August 2022 were recorded in several food products, including Fruit by 9.6%, Fish and seafood by 2.2%, Milk, cheese, and eggs by 1.4%, Vegetables, Coffee, tea, and cocoa by 1.1%, Meat by 1.0%, Oils, and fats by 0.5% and “Sugars, jams, honey, chocolates and confectionery by 0.4%.

For non-food products, a decrease was recorded in the prices of Fuels by 10.1%, added HCP.

In terms of cities, the most significant increases in the CPI were recorded in Beni-Mellal by 1.3%, in Al-Hoceima by 1.1%, in Agadir and Safi by 0.9%, in Oujda and Tetouan by 0.8%, in Tangier and Laayoune by 0.6%, in Guelmim by 0.5%, in Meknes by 0.4%, in Fez by 0.3% and in Casablanca by 0.2%, specified HCP.

In contrast, decreases were recorded in Settat by 0.6%, in Rabat and Errachidia by 0.4%, and in Marrakech by 0.2%, added the same source.

The underlying inflation indicator, which excludes products with volatile prices and products with public tariffs increased by 0.3% at the end of August, compared to July 2022, and by 6.6% compared to August 2021, according to the same source.