Morocco’s core inflation for July rose by 0.3% month-on-month and 5.4% year-on-year, according to Morocco’s Statistics and Forecasts Office (HCP).
The Consumer Price Index (CPI) rose by 0.3%, due to a 0.7% rise in the food index and a 0.2% increase in the non-food index.
Food price rises between June and July 2023 mainly impacted “fruit” with 9.2%, “fish and seafood” with 4.4%, “meat” with 0.7%, “oils and fats” with 0.3%, “coffee, tea and cocoa” with 0.2% and “sugar, jam, honey, chocolate and confectionery” with 0.1%.
Prices fell by 3.3% for the “vegetables” category, by 0.6% for “milk, cheese, and eggs,” and by 0.2% for “bread and cereals.”
The principle increase in prices of non-food occurred mainly in “fuels” prices, which rose 0.5%.
The highest increases in the CPI were in the cities of Al-hoceima (2.9%), Beni-Mellal (1.4%), Safi (1.2%), Tétouan (1.1%), Dakhla (1.0%), Kénitra (0.7%), Laâyoune and Guelmim (0.6%) and Rabat (0.5%). However, the CPI declined in Fez (0.5%) and Errachidia (0.3%).
Compared to July 2022, the CPI rose by 4.9% as a result of an 11.7% increase in the food index and a 0.4% rise in the non-food index. For non-food products, variations ranged from a 7.0% fall for “transport” to a 5.8% rise for “restaurants and hotels.”