Rabat – The Consumer Price Index (CPI), which measures consumer price changes over time, increased by almost 5.5% in June 2023 when compared to the same month in 2022, according to the High Commission for Planning (HCP).
Inflation dropped sharply in June to 5.5% year-over-year from 7.1% in May, according to the HCP’s most recent information note.
Compared with May 2023, the CPI decreased by 0.9% as a result of a 2.4% decrease in the food index and a 0.1% increase in the non-food index.
According to the HCP, the falls in food prices observed between May and June 2023 mainly concern fish and seafood (-6.4%), vegetables (-5.5%), meat (-4.3%), fruit (-3.5%), milk, cheese, and eggs (-1%), oils and fats (-0.4%), and bread and cereals (-0.2%).
On the other hand, prices rose by 1.3% for mineral waters, beverages, and fruit and vegetable juices. For non-food products, the fall was mainly in fuel prices with 0.2%.
By geographical breakdown, the biggest falls in the CPI were recorded in Beni-Mellal (-2.2%), Safi (-2.1%), Settat (-1.9%), Kenitra and Dakhla (-1, 8%), Meknes and Al-hoceima (-1.5%), Oujda (-1.4%), Fes (-1.2%), Tetouan and Errachidia (-1.1%), Marrakech, Tangier, and Laayoune (-0.8%) and Casablanca (-0.7%).
In April, inflation began to rebound after it reached a very high level in the opening months of 2023.
In its monthly statement on inflation, the HCP reported a moderate 3.2% increase in food inflation over the month of April. However, the annual food inflation rate increased to 17.2% at the conclusion of the first four months of 2023, indicating that food inflation is still high compared to last year.
According to HCP statistics, non-food inflation remained stable, recording a 0% month-on-month rise. In the first four months of 2023, the price of non-food items increased at an annual rate of 3.2%. In April, the overall inflation rate was 1.4%.
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