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Morocco’s CPI Sees Record Drops in January

Morocco’s CPI Sees Record Drops in January

Saturday, 23 February, 2019 - 10:45
A woman shops at a vegetable market in Casablanca, Morocco, June 29, 2017. (Reuters)

Morocco’s annual consumer price inflation dropped to 0.5 percent in January from 1.9 percent in December, the high commission for planning said on Friday.

Annual food inflation rose to 2.3 percent in January compared with 1.3 percent in December, while non-food inflation slipped to 0.8 percent in January from 1.8 percent a month earlier.

On a month-on-month basis, the consumer price index dropped to 0.3 percent, from 0.7 percent in December. The decrease was due to a 0.5 percent drop in the food consumer price index and 0.2 percent for non-staple items.

Food prices declined in the first months of 2019 compared with December 2018. Fruit prices dropped in particular, while oil-rich foods saw a 0.3 percent drop, 2.8 percent went off vegetable price tags, 1 percent off lean meat rates and 0.2 percent off dairy products.

On the other hand, rates on seafood items saw a 0.8 percent increase.

In terms of non-food items, tobacco prices saw a 15.2 percent hike.

CPI figures recorded significant month-on-month drops in Marrakech, Meknes and Laayoune by 0.6 percent, a 0.5 percent drop in Agadir and Tangier regions and a 0.3 percent for Casablanca, Kenitra, Rabat and Al Hoceima.

Core inflation, which excludes materials with fixed prices and high volatility items, decreased by 0.1 percent in January compared with December 2018 and by 0.9 percent compared to January 2018.

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