Morocco’s Consumer Prices Edge Up 0.2% in November, Driven by Non-Food Goods

The reason for this increase is linked to the increase in the index of non-food products by 0.4% and the inertia of food products, the HCP said in an information note related to the CPI for November 2020, adding that, for non-food products, the variety ranges from a 0.9% drop in "leisure and culture" to a 1.8% increase in "education".

Compared to October 2020, the consumer price index fell by 0.7% in November 2020, after a 1.8% drop in the food product index and a 0.1% increase in the non-food product index.

The decline in food products recorded between October and November 2020 is related to "fruits" with 12.1%, "vegetables" with 2.2%, "meats" with 2% and "coffee, tea and cocoa" with 0.2%. Regarding non-food products, the drop mainly concerns the prices of "fuels" by 0.2%. On the other hand, prices increased by 1.0% for "fish and seafood", and by 0.4% for "oils and fats".

As for the most significant drops in the consumer price index, they were observed in Béni-Mellal, Safi, Errachidia, Kénitra, Tétouan, Fès, Meknès, Marrakech, Tangier, Agadir, Guelmim, Laâyoune and Dakhla, the HCP stressed.

In this sense, the underlying inflation indicator, which excludes volatile price products and public tariff products, would have recorded an increase of 0.1% compared to October 2020 and 0.2% compared to November 2019, concluded the HCP.