In Morocco, the Haut-commissariat au plan (HCP) has published its report on the consumer price index (CPI) for May 2024, revealing a
fall of 0.2 per cent compared with the previous month.
This decline was mainly due to a 0.7 per cent fall in the food index, partly offset by a 0.4 per cent rise in the non-food index.
In detail, the HCP said that there were significant falls in the prices of food products, particularly “fish and seafood,” which fell by 5.7 per cent, followed by “milk, cheese and eggs” (2.1 per cent), “oils and fats” (2.0 per cent), “fruit” (0.3 per cent), “bread and cereals” (0.2 per cent and “coffee, tea and cocoa” (0.1 per cent).
However, some products saw their prices increase, such as “meats” with a rise of 0.8 per cent and “vegetables” with 0.2 per cent.
With regard to non-food products, the most remarkable increase was seen in “gas” prices, which rose by 12.3 per cent, the HCP said.
Variations in the CPI also show regional disparities. The most notable falls were recorded in Al-Hoceima (-1.0 per cent), Kenitra (-0.8 per cent), Fez (-0.7 per cent) and Oujda (-0.5 per cent), as well as in Tetouan, Tangiers and Settat (-0.2 per cent).
On the other hand, the Moroccan institution points out that some cities have seen increases in the CPI, such as Guelmim (+1.0 per cent), Laâyoune (+0.7 per cent), Marrakech and Dakhla (+0.3 per cent) as well as Agadir and Beni-Mellal (+0.2 per cent).
Compared with May 2023, the CPI for May 2024 recorded a modest rise of 0.4 per cent. This was due to a 1.7 per cent rise in the non-food index, despite a 1.2 per cent fall in the food index. Changes in non-food products ranged from a fall of 1.2 per cent for the “health” sector to a rise of 3.2 per cent for “restaurants and hotels.”
Against this backdrop, the underlying inflation indicator, which excludes products with volatile prices and products with regulated
tariffs, rose slightly by 0.1 per cent in May 2024 compared with the previous month, and by 2.2 per cent, compared with May 2023, the HCP points out in its report.
MN/te/fss/GIK/APA