Hibapress
The consumer price index (CPI) recorded an increase of 1.3% last July compared to the same month of 2023, according to the High Commission for Planning (HCP).
This variation is the result of the increase in the non-food products index of 1.8% and that of food products of 0.5%, explains the HCP in an information note relating to the CPI of July 2024.
For non-food products, the variations range from a decrease of 1.2% for “Health” to an increase of 3.8% for “housing, water, gas, electricity and other fuels”, the same source said.
Compared to June 2024, the CPI fell by 0.2% last July, due to the 0.5% decrease in the food index and the 0.1% increase in the non-food index.
The decreases in food products observed between June and July 2024 mainly concern “Vegetables” with 6.5%, “Milk, cheese and eggs” with 1% and “Oils and fats” with 0.5%.
On the other hand, prices increased by 4.7% for “Fish and seafood”, by 0.9% for “Fruit” and by 0.4% for “Sugar, jam, honey, chocolate and confectionery”.
For non-food products, the increase mainly concerned the prices of “Fuels” with 1.3%, specifies the HCP.
The most significant CPI declines were recorded in Errachidia with 1.1%, in Safi with 1%, in Fez and Marrakech and Dakhla with 0.5%, in Agadir and Rabat with 0.4% and in Oujda, Meknes and Settat with 0.3%. On the other hand, increases were recorded in Laayoune and Beni-Mellal with 0.5%, in Kenitra with 0.4% and in Tangier and Guelmim with 0.2%.
Under these conditions, the underlying inflation indicator, which excludes products with volatile prices and products with public tariffs, would have seen an increase of 0.1% in July 2024 compared to June 2024 and 2.1% compared to July 2023.
