In February, Morocco’s inflation rate accelerated to 2.6% from 2% in January, fueled by a 4.6% rise in food prices. Non-food inflation increased by 1.2%, while consumer prices rose by 0.3% month-on-month. Core inflation recorded a 2.4% rise year-on-year.
Morocco’s annual inflation rate reached 2.6% in February, an increase from 2% in January, according to data from the High Commission for Planning (HCP). The rise in inflation is primarily attributed to food prices, which surged by 4.6% compared to the previous year, while non-food items experienced a 1.2% uptick. Additionally, on a month-to-month basis, consumer prices saw a 0.3% increase from January.
Core inflation, which omits more volatile items, was observed to rise by 0.2% from January and reached a year-on-year rate of 2.4%. This data indicates a moderate increase in the overall price levels affecting consumers in Morocco, emphasizing the ongoing challenges linked to the cost of living.
The latest data indicates that Morocco’s inflation is on the rise, driven primarily by food prices. With a noted 2.6% inflation rate in February, up from 2% in January, the statistics highlight an ongoing concern for the economic landscape in the region. The increase in both core and non-core inflation suggests persistent price pressures that warrant close monitoring.
Original Source: www.tradingview.com
