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    Morocco’s Inflation Rate Rose by 8% in August 2022

    Inflationary pressures continue to weigh on Moroccans’ purchasing power.

    23 Sep 2022

    Rabat - Morocco’s inflation rate remains high, reaching a new peak at the end of August with an increase of 8% compared to last year, according to the latest figures from the country’s High Commission for Planning (HCP).

    August’s increase in the Consumer Price Index (CPI) is 0.3% higher than July’s, the HCP noted, attributing this increase to the 1.5% rise in the index of food products and the 0.5% decrease in the index of non-food products.

    The increases in food products observed between July and August 2022 concern mainly fruit with 9.6%, fish and seafood with 2.2%, as well as milk, cheese, and eggs with 1.4%.

    This is in addition to vegetables, coffee, tea, and cocoa, which increased by 1.1%, meat by 1.%, oils and fats by 0.5%, and sugars, jams, honey, chocolates, and sweets by 0.4%.

    For non-food products, the decline has mainly affected the prices of fuels by 10.1%, the HCP reported.

    According to HCP’s data, the largest increases in the consumer price index were recorded in Beni-Mellal with 1.3%, in Al-Hoceïma with 1.1%, and in Agadir and Safi with 0.9%.

    This increase was also seen in Oujda and Tetouan with 0.8%, in Tangier and Laayoune with 0.6%, in Guelmim with 0.5%, in Meknes with 0.4%, in Fes with 0.3%, and in Casablanca with 0.2%.

    However, decreases were recorded in Settat with 0.6%, Rabat and Errachidia with 0.4%, and Marrakech with 0.2%, the HCP highlighted.

    Compared to the same period last year, the consumer price index recorded an increase of 8%. The HCP attributed this growth to a 14.1% increase in the index of food products and a 4% increase in the index of non-food products.

    moroccoworldnews

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