Morocco’s Inflation Rate Climbs to 2.6% in February 2023

In February, Morocco’s inflation accelerated to 2.6%, up from 2% in January, with food prices rising 4.6%. Non-food inflation increased by 1.2%, and consumer prices rose 0.3% month-on-month, while core inflation was up 0.2% month-on-month and 2.4% year-on-year.

In February, Morocco’s annual inflation rate reached 2.6%, an increase from 2% reported in January, according to the country’s statistics agency HCP. The rise in inflation is primarily attributed to a 4.6% spike in food prices over the past year, while non-food inflation experienced a more modest rise of 1.2%.

On a monthly basis, consumer prices exhibited a 0.3% increase from January to February. Furthermore, core inflation, which excludes the influence of more volatile goods, saw a 0.2% rise month-on-month and a 2.4% year-on-year increase.

Morocco’s inflation demonstrates upward movement, driven largely by rising food prices. The increase in both overall and core inflation indicates increasing economic pressures, warranting close observation of future trends. The statistics highlight the importance of food prices in shaping inflationary trends in Morocco.

Original Source: www.tradingview.com