The Consumer Price Index (CPI) witnessed an increase of 5% during the month of August 2023, according to a statement issued on Wednesday 20 by the High Commission for Planning (HCP).
Compared to the same month in the previous year, the rise of 5% in the CPI is driven by a 10.4% increase in the food index and a 1.3% increase in the non-food index, the HCP highlighted in the same statement.
In August 2023, the overall CPI surged by 0.3% compared to July 2023, resulting from a 0.2% increase in the food index and a 0.4% increase in the non-food index.
The inflation indicator saw a decline of 0.2% during the month but rose by 4.9% over the course of the year.
Between July and August 2023, the notable surges were witnessed in the ‘Fruits’ category with 2.8%, and ‘Vegetables’ with 2.7%. The categories of ‘Milk, cheese, and Eggs’ as well as ‘Coffee, Tea, and Cocoa’ experienced a 0.2% increase, whereas the category of ‘Bread and Cereals rose only by 0.1%.
However, decreases in food prices were also observed. There was a drop of 2% for ‘Meat’, 0.8% for ‘Fish and Seafood”, and 0.7% for ‘Oils and Fats’.
For non-food products, the prices of ‘Fuels’ saw a notable increase of 6.7%.
The Consumer Product Index surges were observed in the city of Oujda at 1.6%, Fes and Settat at 0.8%, Tetouan and Al-Hoceima at 0.7%, and Dakhla at 0.6%.
As for Agadir, Kenitra, and Laayoune, the CPI increased by 0.5%, Marrakech by 0.4%, and Casablanca, Meknes, Tangier, Guelmim, and Errachidia by 0.3%.
Beni-Mellal and Rabat, on the other hand, recorded decreases in the CPI, with 1.4% and 0.2% respectively.
The statement underscored that the inflation indicator experienced a 0.2% decrease in the month of August 2023 compared to July 2023, but an increase of 4.9% compared to August 2022. The indicator doesn’t include volatile price products and publicly regulated products.
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