Home Economy Prices Increased on Fuel and Fresh Produce in Morocco in April: Report

Prices Increased on Fuel and Fresh Produce in Morocco in April: Report

Prices Increased on Fuel and Fresh Produce in Morocco in April: Report

Rabat- Morocco’s High Commission for Planning (HCP) has revealed in its latest report that the consumer price index (CPI) rose in April 2018. CPI increased by 0.3 percent in April, after rising by just 0.1 percent in March.

The food index increased by 0.7 percent and the non-food index rose by 0.3 percent. Production of fruits and vegetables increased in both March and April, by 4.4 percent in March and by 2.1 percent in April. Meat production also increased by 1.1 percent in April.

In the non-food index, fuel prices increased by 2.8 percent, nearly ten times the price increases in the overall CPI.

Meanwhile, some products decreased slightly in price, including mineral and soft drinks by 0.8 percent, fish and seafood by 1.4 percent, and oils and fats by 0.4 percent.

It seems that fish prices subsequently increased in May, including those of sardines, croakers, and sole fish, due to increased demand for Ramadan. The development resulted in calls for a fish boycott in addition to the ongoing boycott of three prominent Moroccan companies.

Read Also: Controversy Between MPs in Fuel Price Exploratory Committee

The highest increases in CPI were recorded in Al Hoceima at 1 percent; Safi at 0.8 percent; Agadir at 0.7 percent; Oujda, Dakhla, and Guelmim at 0.6 percent; Marrakech and Settat at 0.5 percent; and Rabat at 0.4 percent.

The CPI increased by 0.3 in Fez, Meknes, Tetouan, Tangier, Kenitra, Laâyoune, and Beni Mellal, while it rose by only 0.2 percent in Casablanca.

In the twelve months since April 2017, CPI has increased by 2.7 percent. The food index increased by 3.7 percent, non-food products by 1.7 percent, and services (excluding communication services) by 6.8 percent. Communication services prices remained stable in the last year.

The core inflation indicator, which excludes products with volatile prices and products with public tariffs, remained stable in April compared to March, and has increased only 0.8 percent since April 2017.

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