Morocco: Inflation in March at nearly 4% year on year

Rise of 1.8% in the consumer price index, resulting from the rise of 3.8% in the index of food products and 0.5% in the index of non-food products. The core inflation indicator up 0.5% over one month and 3.9% over one year.

The consumer price index increased by 1.8% in March 2022 compared to the previous month. This variation is the result of the 3.8% increase in the index of food products and 0.5% in the index of non-food products.

The increases in food products observed between February and March 2022 mainly concern “Vegetables” with 13.8%, “Fish and seafood” with 6.2%, “Fruits” with 5.2%, “Meat with 3.5%, “Milk, cheese and eggs” with 2.1%, “Bread and cereals” with 1.9% and “Oils and fats” with 1.2%. On the other hand, prices fell by 0.2% for “Mineral waters, soft drinks, fruit and vegetable juices”. For non-food products, the increase mainly concerned “Fuel” prices with 8.0%.

CPI increases were recorded in Errachidia with 2.8%, in Beni-Mellal with 2.5%, in Settat and Al-hoceima with 2.4%, in Fez, Tetouan and Safi with 2.3% , in Meknes, Tangier and Laayoune with 2.1%, in Kenitra and Oujda with 1.9%, in Casablanca with 1.7%, in Dakhla with 1.6%, in Marrakech with 1.4%, in Agadir and Rabat with 1.2% and in Guelmim with 0.7%.

Compared to the same month of the previous year, the consumer price index recorded an increase of 5.3% during the month of March 2022 as a result of the increase in the index of food products by 9.1%. and that of non-food products by 2.8%. For non-food products, the variations range from stagnation for “health” and “communication” to a rise of 7.6% for “Transport”.

Under these conditions, the core inflation indicator, which excludes products at volatile prices and products at public prices, would have increased by 0.5% in March 2022 compared to February. 2022 and 3.9% compared to March 2021.

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