Moroccan CPI rises 1.7 pct during May

2021-06-23 08:27:19

(MENAFN) On Tuesday, jun. 22 the Moroccan Central Bank stated that the country’s consumer price index (CPI) soared by 1.7 percent last month, a rise from 0.7 percent last year and 0.1 percent in the first three months of this year.

The bank stated in a report after its second quarterly assembly of the year that the rise in the total index was steered by the increase of oil, food prices in the global market and the recovery of local demand.

Regarding the estimates of the second half of this year and next year, the central bank noted that the inflation would maintain its speeding up but stays at moderate levels, with a rise of 1 percent this year and 1.2 percent next year.

In the meantime, the report further said that the central bank made a decision to keep its key interest rate stable at 1.5 percent, noting the monetary policy stance stays proper and guarantees adequate financing states.

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