Rabat – The Consumer Price Index (CPI) fell by 0.1 percent in October, as a result of the 0.3 decrease in product index and the 0.1 percent increase of the non-food index.
In a report issued on November 22 on the CPI of October, the High Commission for Planning (HCP) revealed that CPI had fallen by 0.1 percent compared to the previous month.
The same source added that the drops in food products that occurred between September and October 2017 concern mainly seafood with 3.9 percent, meats (2.3 percent), fruits (1.1 percent), coffee, tea and cocoa (0.7 percent).
Prices, however, increased by 2.2 percent for vegetables, by 1.9 percent for oils and fats and 0.2 percent for milk, cheese and eggs, added HCP. For non-food products, the increase mainly concerned fuels, by 0.9 percent.
The biggest drops were recorded in Settat with 0.8 percent against 0.5 percent in Al Hoceima, Casablanca and Agadir registered 0.4 percent while Kenitra, Tetouan, and Beni-Mellal saw a 0.3 percent decline in the CPI. Biggest increases were registered in Guelmim with 0.9 percent, Safi (0.4 percent), Oujda (0.3 percent), while Fez and Tangier recorded 0.2 percent.
The CPI 0.6 percent in October 2017 compared to the same month of the previous year. The HCP explained this increase by the rise in the non-food products index (1.3 percent) and the decline in product index by 0.2 percent. The commission added that for non-food products, variations range from a stagnation in “communication” to an increase of 3.2 percent in “restaurants and hotels.”
Under these conditions, the core inflation indicator, which excludes products with volatile prices and products with public tariffs, have decreased by 0.3 percent in October 2017 compared to the month of September 2917 and an increase of 1.1 percent compared to October 2016.
