Food prices, the main driver of inflation, rose 2 percent from a year earlier. Non-food inflation also increased by 1.4 percent.
And rose Core inflationwhich excludes the most volatile commodities, rose 0.3 percent on a monthly basis and 2.6 percent on a yearly basis.
The consumer price index remains close to the Moroccan central bank’s target of 2 percent. Last June, the Moroccan central bank cut its key interest rate in a surprise move by 25 basis points from 3 percent to 2.75 percent, for the first time since 2020.
It is noteworthy that Morocco had recorded unprecedented levels of inflation rates since 2022, when it recorded 6.6 percent, and decreased to 6.1 percent last year, driven by rising food and fuel prices, compared to an average inflation rate of about 1.5 percent in the past two decades.
