HCP: Consumer Price Index records 0.2% increase in April 2024

The High Commissioner for Planning (HCP) has reported a 0.2% rise in the consumer price index (CPI) in April 2024, compared with the same month in 2023.

In its recent CPI information note, the HCP explains that this increase is the consequence of a 1.3% rise in the non-food index and a 1.3% fall in the food index.

For non-food products, the variations range from a 1.2% fall for “Health” to a 2.9% rise for “Restaurants and hotels”, the same source points out.

Compared with March 2024, the CPI rose by 0.6%. This variation is the result of a 0.9% rise in the food index and a 0.2% increase in the non-food index.

The increases in food products observed between March and April 2024 mainly concerned “Fruit” with 5.3%, “Vegetables” with 5%, “Fish and seafood” with 2.1%, “Mineral waters, soft drinks, fruit and vegetable juices” with 0.6% and “Meat” with 0.2%.

By contrast, prices fell by 1.8% for “Milk, cheese and eggs”, 0.5% for “Oils and fats” and 0.3% for “Coffee, tea and cocoa”. For non-food products, the rise was mainly in “Fuels”, with 1.4%.

The biggest increases in the CPI were recorded in Al-Hoceima with 1.8%, Agadir with 1%, Oujda with 0.9%, Tétouan and Guelmim with 0.8%, Fès, Kénitra and Tanger with 0.7%, Settat and Errachidia with 0.6%, Casablanca and Rabat with 0.5%, Meknès with 0.3% and Marrakech and Safi with 0.2%. Conversely, declines were recorded in Laâyoune (0.6%) and Dakhla (0.3%).

Under these conditions, the underlying inflation indicator, which excludes products with volatile prices and products with public tariffs, would have risen by 0.2% in April 2024 compared with March 2024, and by 2.2% compared with April 2023.

Trend by product division
Product divisions: Variation (%)

– Food products: -1.3% – Food products and non-alcoholic beverages: -1,4%

– Alcoholic beverages and tobacco: +2.3

– Non-food products: +1.3%

– Clothing and footwear: +1.9% – Housing, water, electricity and other

– Housing, water, electricity and other fuels: +0.9%

– Furniture, household goods and routine household maintenance: +1.4%

– Health care: -1.2%

– Transport: +2.7% Communication

– Communications: -0,2%

– Leisure and culture: -0.3%

– Education and training: +2.1%

– Restaurants and hotels: +2.9%

– Miscellaneous goods and services: +2.1%