Morocco’s Consumer Price Index rises by 0.8%

Morocco’s High Commission for Planning has said that the country’s Consumer Price Index (CPI) increased by 0.8% in August after rising 0.3% in July 2019.

According to the commission, food prices rose 0.5% year-on-year in August after dropping 0.5% in the previous month while Non-food prices increased by 1% in August, compared with a rise of 1% a month earlier.

“On a month-on-month basis, the consumer price index rose 0.3% in August. Core annual inflation rose 0.3% on a month-on-month basis and 1.5% year-on-year,” It added.

Inflation, mainly affected by food prices, is expected to slow to 0.6% in 2019 from 1.9% last year, before picking up to 1.2% in 2020 as domestic demand improves, according to Morocco’s central bank.

Peace PIAK