- 08:20Moroccan Medical Residents Extend Strike as Healthcare Crisis Deepens
- 08:00Essential Advice for Chevening Scholarship Applicants
- 07:33Morocco Amplifies Military Spending to $13 Billion as Regional Security Concerns Mount
- 17:30Morocco's Consumer Price Index Stabilizes as Core Inflation Climbs
- 17:15Bridging Economies: Quebec and Morocco Forge New Paths for Collaboration
- 17:00France-Morocco Relations Set to Deepen: Macron's Strategic State Visit Announced for Late October
- 16:20Estonia Endorses Morocco's Autonomy Plan as Credible Solution for Sahara Region
- 16:00Bridging Cultures: A Celebration of Andalusian Heritage in Madrid
- 15:30Morocco Firmly Rejects UN Envoy's Partition Proposal for Sahara
Follow us on Facebook
Morocco's Inflation Reaches Stable Grounds; Core Prices Rise Modestly
A recent briefing from the High Commission of Planning (HCP) reveals that Morocco's core inflation, an index that excludes products with volatile prices and public tariffs, experienced a modest 0.2% month-on-month (MoM) increase in April. This mild uptick in core prices indicates a stabilizing trend in the country's overall inflation rate, which is approaching the central bank's target of 2%.
The Consumer Price Index (CPI), a measure of the average change in prices for a basket of goods and services, rose by 0.6% by the end of April. However, this increase was mitigated by a 0.9% rise in the food products index and a 0.2% rise in the non-food products index.
According to the HCP report, the upward movement in food product prices was primarily driven by a 5.3% MoM increase in fruit prices and a 5% hike in vegetable prices. Notably, the impact of the CPI rise varied across different cities, with Al-Hoceima experiencing the highest increase at 1.8%, followed by Agadir (1%), Oujda (0.9%), and Tetouan and Guelmim (0.8%).
After two years of volatile inflation, Morocco's economy is witnessing a steadying trend, thanks to improved agricultural production and diminishing external pressures. This observed slowdown in inflation aligns with the HCP's projections of a downward trajectory throughout 2024.
In a report released in July 2023, the HCP forecasted that as external pressures continue to ease, Morocco's inflation would further slide to an average of 2.3% in 2024, inching closer to the recommended 2% rate.
As the nation navigates through these economic currents, the stable core inflation and the modest rise in overall prices signal a promising path towards sustainable growth and price stability.