On Thursday, October 20, the High Commissioner for Planning in Morocco said that the high cost of food was a major factor in the consumer price index’s 8.3% annual increase in September.
While non-nutritional goods had an increase of 4. 4%, food costs jumped by 14. 7%. The index increased by 1% per month.
The primary consumer price index, which does not include volatile goods, increased by 7.0% annually and 0.8% monthly.
In order to preserve price stability, the Moroccan Central Bank last month increased the benchmark interest rate by 50 basis points to 2%.
Morocco’s annual consumer price index rose 8.3% in September.
About Author
