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Morocco’s Consumer Prices Drop 0.8% in July, Led by Food and Fuel Costs
Friday 23 August 2019, by
For the month of July 2019, the consumer price index recorded a 0.8% drop compared to June. This variation can be justified by the 2.0% drop in the food products index and 0.1% in the non-food products index.
Between June and July 2019, the following food products experienced a decline: "vegetables" by 8.1%, "fish and seafood" by 4.3%, "fruits" by 3.6%, "meats" by 1.7% and "milk, cheese and eggs" by 0.5%. As for non-food products, they take into account the prices of "fuels" with 1.0%.
These declines were recorded in Béni-Mellal with 2.1%, Meknès with 2.0%, Al-hoceima with 1.6%, Fès with 1.4%, Kénitra, Oujda and Settat with 1.3%, Guelmim with 1.1%, Laâyoune with 1.0% and Tétouan as well as Tanger with 0.7%.
As for the consumer price index, it increased by 0.3% in July. With this increase, the index of non-food products rose by 0.9%. As for the food products index, it recorded a 0.5% drop. For non-food products, the variations range from a stagnation for "Transport" to a 3.4% increase for "Education".
As a result, the underlying inflation indicator, which excludes volatile price products and public tariff products, experienced a 0.2% drop in July 2019 compared to June 2019 and a 1.3% increase compared to July 2018.