Morocco’s inflation rate rose to 2.6% in February from 2% in January, driven by a 4.6% increase in food prices. Non-food inflation increased by 1.2%. Monthly consumer prices rose 0.3%, and core inflation was up 2.4% year-on-year.
In February, Morocco’s annual inflation rate reached 2.6%, a rise from 2% in January, as reported by the country’s statistics agency, HCP. This increase is primarily attributed to a 4.6% year-over-year rise in food prices, while non-food inflation experienced a more modest increase of 1.2%.
On a monthly basis, consumer prices saw an uptick of 0.3% compared to January figures. Moreover, core inflation, which excludes the prices of more volatile goods, increased by 0.2% month-on-month and 2.4% year-on-year, reflecting broader trends in the Moroccan economy.
In summary, Morocco’s inflation rate has escalated to 2.6%, instigated mainly by rising food prices. The monthly consumer price increase and the core inflation rate also highlight the ongoing economic developments in the country. These changes indicate a continued pressure on consumer prices, warranting close observation by policymakers.
Original Source: www.tradingview.com
