Inflation in Morocco rises to 8%, as living costs crisis persists

Morocco’s The inflation indicator is now up by 0.1% compared to last month, and by 8.1% compared to the same time a year ago. 

The consumer price index has surged by 0.1%, resulting from a rise of 0.3% in the index of food products and a decline of 0.1% in the non-food products’ index, says the High Commission for Planning (HCP). 

The increases in food products observed between February and March 2023 mainly concern fruits, with 3.4%, fish and seafood, with 2.2%, milk, cheese, and eggs as well as coffee, tea, and cocoa with 0.3%. 

Sugar, jam, honey, chocolate, and confectionery” witnessed a rise of 0.2%, and vegetables, bread, and cereals went up 0.1%. 

On the other hand, meat prices fell by 0.8% and by 0.1% for oils and fats. For non-food products, the decline was mainly in the prices of fuels by 3.6%. 

The largest increases in the consumer price index were recorded in Guelmim (1.4%), Al-Hoceima (1.2%), Beni-Mellal (0.8%), Marrakech (0.7%), Agadir, Fez, Tetouan and Laayoune (0.3%), Kenitra, Tangier and Settat( 0.2%).  

In Casablanca and Errachidia, the consumer price index went up by 0.3% and Oujda, meanwhile in Rabat and Safi it surged by 0.1%. 

Compared to the same month of the previous year, the consumer price index rose by 8.2% during March 2023 because of the 16.1% rise in the food products index and the 3.0% rise in the non-food products index.  

For non-food products, the variations range from an increase of 0.4% for the health sector to 6.2% for restaurants and hotels. 

Given these numbers, HCP declared that the inflation indicator increased by 0.1% in March 2023 compared to February 2023, and by 8.1% compared to March 2022.