Inflation in Morocco increases in June
Date
7/22/2024 9:02:18 AM
(MENAFN) Morocco's annual inflation rate, as measured by the consumer price index, saw a significant increase in June, climbing to 1.8 percent from just 0.4 percent in May, according to data released by the High Commission for Planning on Monday. This sharp rise in inflation reflects broader economic pressures affecting the country.
The primary driver behind this inflationary surge has been a 1.7 percent increase in food prices compared to the previous year. Additionally, inflation for non-food items also rose, reaching 1.9 percent. These changes indicate that both essential and non-essential goods are becoming more expensive, contributing to the overall increase in the cost of living.
Core inflation, which excludes more volatile items like food and energy, rose by 0.3 percent on a monthly basis and saw a notable annual increase of 2.4 percent. This suggests that underlying inflationary pressures are building, even when the more unstable components are factored out, highlighting persistent inflationary trends within the Moroccan economy.
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