Economic Indicators
Morocco’s annual CPI up 8.1% in October
2022.11.23 02:45
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© Reuters. FILE PHOTO: A dry field is pictured near Marrakech, Morocco February 12, 2022. REUTERS/Sybille de La Hamaide
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RABAT (Reuters) – Morocco’s consumer price index rose by 8.1% year-on-year in October, driven mainly by a surge in foodstuff prices, the high commission for planning said on Tuesday.
Food prices rose by 13.8% while non-food inflation increased by 4.3%. On a month-on-month basis, the index rose by 0.4%.
Core CPI, which excludes goods subject to price volatility, increased 7.1% year-on-year and 0.6% month-on-month.
Morocco’s central bank raised its benchmark interest rate by 50 basis points to 2% in September, citing the need to ensure price stability.
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