Morocco’s CPI eases to 2.5 y/y in June

People shop in a photo illustration at vegetable market in Casablanca, Morocco, June 29, 2017. REUTERS/Youssef Boudlal/Illustration

RABAT – Morocco’s consumer price inflation slowed to 2.5 percent year-on-year in June from 2.6 percent in May, the High Planning Commission said on Friday.

Food inflation stood at 3.1 percent compared with 3.4 percent in May, while non-food prices rose 2 percent from 1.9 percent in May, the commission said in a statement.

Communication costs were flat, while inflation of goods and miscellaneous services stood at 6.4 percent after 6.5 percent in May, the data showed.

On a month-on-month basis, the consumer price index rose 0.3 percent in June compared with 0.5 percent in May, as food price inflation rose 0.3 percent and fuel prices 1 percent.

Earlier this month, the commission forecast Morocco’s annual inflation would rise from 0.8 percent in 2017 to 1.7 percent in 2018 and 1.3 percent in 2019.

Reporting by Ahmed Eljechtimi; Editing by Alison Williams