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

Morocco’s inflation accelerated to 2.6% in February, up from 2% in January, driven mainly by a 4.6% rise in food prices. Non-food inflation increased by 1.2%. Month-on-month, consumer prices rose by 0.3%, and core inflation was up 2.4% year-on-year.

In February, Morocco’s annual inflation rate climbed to 2.6%, up from the previous month’s rate of 2%, as reported by the country’s statistics agency, HCP. This upward trend was primarily driven by a 4.6% increase in food prices, which significantly influenced the overall inflation figure, while non-food inflation saw a rise of 1.2%.

On a month-to-month comparison, consumer prices experienced a slight increase of 0.3% from January. Notably, core inflation, which removes the impact of volatile items, registered a monthly increase of 0.2% and an annual increase of 2.4%.

In summary, Morocco’s inflation rate is on the rise, reaching 2.6% in February, primarily fueled by surging food prices. While non-food prices remain stable, the modest month-to-month price changes reflect ongoing economic trends. Core inflation metrics further indicate slight increases, underscoring the broader economic implications of these figures.

Original Source: www.tradingview.com