The Consumer Price Index (CPI) recorded an increase of 0.7% in October compared to the same month in 2023, according to the High Planning Commission (HCP).
This variation is the result of a 0.5% increase in the food index and a 0.7% increase in the non-food index, the HCP explained in a note on the October 2024 CPI.
For non-food products, variations ranged from a 3.6% decrease for “Transport” to a 3.6% increase for “Housing, water, electricity, gas and other fuels” and “Restaurants and hotels,” according to the same source.
Compared to September, the CPI decreased by 0.3%, resulting from a 0.5% decrease in the food index and a 0.1% decrease in the non-food index.
The decreases in food products observed between September and October 2024 mainly concern “Fruits” with 3.4%, “Meats” with 2.7%, “Mineral waters, soft drinks, fruit and vegetable juices” with 0.9%, “Fish and seafood” with 0.7% and “Milk, cheese and eggs” with 0.2%.
On the other hand, prices increased by 1.7% for “Vegetables”, by 1.4% for “Oils and fats” and by 0.5% for “Coffee, tea and cocoa”.
For non-food products, the decrease mainly concerned the prices of “Fuels” with 3.1%, the HCP specified.
The largest decreases in the CPI were recorded in Al-Hoceima with 1.8%, in Oujda and Beni-Mellal with 1.0%, in Safi with 0.8%, in Marrakech with 0.7%, in Guelmim with 0.6%, in Tétouan with 0.5%, in Agadir with 0.3%, in Fès, Kénitra, Meknès, Tangier, Laâyoune and Settat with 0.2% and in Rabat with 0.1%. On the other hand, an increase was recorded in Errachidia with 0.2%.
Under these conditions, the underlying inflation indicator, which excludes volatile price products and public tariff products, experienced a 0.3% increase in October 2024 compared to September 2024 and a 2.4% increase compared to October 2023.
The post Morocco’s inflation climbs 0.7% in October amidst rising food and non-food prices appeared first on HESPRESS English – Morocco News.
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