In a recent note, the High Commission for Planning (HCP) unveiled that the inflation rate was 3.6% in November, after registering a 0.3% drop in the consumer price index (CPI), resulting from the 0.7% drop in the food products index and the stagnation of the non-food products index.
Fruits account for 15.5% of the food product reductions reported between October and November 2023; while oils and fats account for 0.8%; bread and cereals account for 0.2%; and sugar, jam, honey, chocolate, and confectionery account for 0.1%.
However, meat prices grew by 0.6%, and fish and seafood registered a surge of 3.0%, while vegetables went up by 4.6%. Regarding non-food items, the 1.1% decrease was primarily related to fuel prices.
The cities with the biggest declines in the CPI were Agadir (0.9%), Kenitra and Laayoune (0.8%), Marrakech, Tetouan, and Errachidia (0.7%), Meknes and Tangier (0.6%), Casablanca (0.4%), Guelmim (0.3%), and Settat and Al-hoceima (0.2%).
In contrast, the index went up in Fez and Dakhla (0.3%), Safi (0.9%), and Beni-Mellal (0.5%).
The increase in the food goods index of 7.6% and the non-food products index of 0.7% in November 2023 compared to the same month the previous year resulted in a 3.6% increase in the overall consumer price index, explained HCP.
The range of variations for non-food products is 2.4% for transportation and 4.8% for restaurants and hotels.
In these circumstances, November 2023 saw a 3.6% increase over November 2022 and a stagnation compared to October 2023 for the underlying inflation index, which does not include products with public pricing and those with fluctuating prices.
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