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Morocco’s Consumer Price Index Dropped by 0.3% in July

Morocco’s Consumer Price Index Dropped by 0.3% in July
Morocco’s Consumer Price Index Dropped by 0.3% in July

Several regions recorded significant drops in consumer products index, including Oujda, Fez, Al Hoceima, Casablanca, and Tangier.

Morocco’s consumer price index declined by 0.3 % in July 2020 compared to June of the same year, according to a new notice from the High Commission of Planning (HCP).

The HCP notice also pointed out that the drop is due to the 1.6% drop in food index and the increase by 0.5% of the non-food index.

The decline in food products between June and July of this year concerned vegetables with 8.6%, fish and seafood with 3.5 %, milk, cheese and eggs, with 0.9 %, meat with 0.7% and oils and fats with 0.5%.

For non-food products, the increase mainly concerned the prices of fuels with 6.9%.

HCP said that the most notable drops in the consumer products index (CPI) were recorded in Oujda with 1.1%, Fez (0.7%), Al Hoceima (0.6%), Tangier (0.5%).

Casablanca, Kenitra and Settat also recorded a decline in the CPI with 0.3 %, followed by Marrakch and Meknes with 0.2%.

Beni-Mellal, however, recorded an increase in CPI with 1.4% and Dakhla 0.5%.

HCP also provided a comparison between 2020 CPI and that of 2019, stipulating that the consumer price index recorded a decrease of 0.1 % during the month of July of this year due to the decrease in the food index by 1.1 % and the increase in non-food products by 0.5%.

For non-food products, the variations range from a decrease of 1.6% in transport to an increase of 3.1% in education.

Inflation indicator, which excludes products with volatile prices and products with public prices, would have experienced during the month of July 2020 a stagnation compared to the month of June and an increase of 0.7% compared to July 2019.

Culled from Moroccoworldnews

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