Morocco’s annual inflation rate stood at 0.7% in the year 2020. Meanwhile, the annual core inflation rate, which excludes the goods and services with volatile prices, stood at 0.5%.
Morocco’s High Commission for Planning (HCP) released the figures today, January 22, in its monthly update of the country’s Consumer Price Index (CPI) — the indicator used to measure inflation.
The average CPI in Morocco grew by 0.7% between 2019 and 2020 due to a 0.9% rise in the prices of food products and a 0.5% increase in the prices of non-food products.
Foodstuff and non-alcoholic beverages in Morocco became 1.0% more expensive in 2020, compared to 2019. Meanwhile, alcoholic drinks and tobacco products became 0.8% more expensive.
The cost of education services (+2.7%), “uncategorized” goods and services (+1.4%), and restaurants and hotels (+1.1%) increased the most.
Other non-food products have experienced a rise in prices between 2019 and 2020. These include health (+0.9%), accomodation, water, electricity, and gas (+0.6%), clothing items (+0.3%), and house furniture (+0.2%).
Meanwhile, several categories of goods and services witnessed an annual decline in prices, notably transport (-1.6%), entertainment and culture (-0.9%), and communication (-0.4%).
Morocco’s annual inflation rate significantly varied between cities, ranging from 0.0% in Fez and Kenitra, to 2.1% in Guelmim.
The highest inflation rates, besides the one recorded in Guelmim, were witnessed in Beni Mellal (1.3%), Tangier and Laayoune (1.0%), Agadir, Rabat, and Meknes (0.9%), as well as in Marrakech, Settat, and Al Hoceima (0.8%).
The cities of Errachidia (0.7%), Tetouan (0.6%), Casablanca (0.4%), Dakhla and Safi (0.3%), and Oujda (0.1%) have all recorded an annual inflation rate equal to or lower than the national average.
