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Rabat – The average price of goods and services rose by just over half a percent in February this year compared to the previous month, according to Morocco’s Consumer Price Index (CPI).
The CPI tracks the average price of goods and services, such as food, transport, and medical care, rose by 0.6% in February 2022, compared to a month earlier, Higher Commission for Planning (HCP), a state data agency, said on Tuesday.
The inflation is driven by an increase in the price of carbon products, which jumped by 5.7% from January to February, according to HCP.
The increase in food prices included a 2.9% increase in bread and cereal prices, a 1.5% hike in cooking oil prices, a 1% hike in vegetable prices, and a 0.5% in fruit prices.
However, the price of fish fell by 0.1%.
The CPI rose by less in some parts of Morocco than others. In Marrakech, the CPI rose by 1.3%, while in Fes and Tanger the index rose by 1.1%, Oujda witnessed a slower 0.9% rise in prices, Guelmim, Beni-Mellal, and Kenitra recorded a 0.8% rise, and Tetouan by 0.7%.
Only two Moroccan cities escaped the trend with Casablanca and Errachidia recording a 0.1% drop in consumer prices, according to the agency.
The COVID-induced economic crisis coupled with the Ukraine war is putting severe pressure on global food prices, especially fuel, fertilizers, and grain, the HCP said
In an attempt to offset the effect of rising food and energy prices, the Moroccan government in recent weeks began to subside food prices.
The government also announced plans to curb tomato exports to Europe ahead of Ramadan to control tomato prices as demand for tomatoes over the Ramadan month drives Tomato prices even higher.
Morocco’s inflation rate for the year now averages 3.5%, according to data from the Higher Commission for Planning (HCP).
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