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Food Prices Down, But Morocco’s Consumer Price Index Ticks Up Slightly Year-on-Year

 

Morocco’s consumer price index (CPI) rose by 0.4% in May 2024 compared with the same month in 2023, according to the monthly bulletin released Friday by Morocco’s Statistics and Forecasts Office (HCP).

The small increase over last year is the result of a 1.7% rise in the non-food index offsetting a 1.2% fall in the food index. The changes in non-food products ranged from a 1.2% fall for “Health” to a 3.2% for “Restaurants and hotels.”

Compared to the previous month, however, the overall CPI fell by 0.2%, reflecting a 0.7% fall in the food index and a 0.4% rise in the non-food index.

The decreases in the prices of food products observed between April and May 2024 were primarily in the categories of “Fish and seafood” at 5.7%, “Milk, cheese and eggs” with 2.1%, “Oils and fats” with 2%, “Fruit” with 0.3%, “Bread and cereals” with 0.2% and “Coffee, tea and cocoa” with 0.1%.

Prices rose by 0.8% for “Meats” and 0.2% for “Vegetables.” For non-food products, the rise was mainly in “Gas” prices, with 12.3%.

The biggest decreases in the CPI were recorded in Al-Hoceima at 1%, in Kenitra at 0.8%, in Fes at 0.7%, in Oujda at 0.5%, in Tétouan, Tanger, and Settat with 0.2% and in Casablanca, Meknes and Errachidia with 0.1%.

Conversely, increases were recorded in Guelmim at 1.0%, Laayoune at 0.7%, Marrakech and Dakhla at 0.3% and Agadir and Beni-Mellal at 0.2%.