Morocco’s Consumer Prices Jump 2.2% in July, Food Costs Lead Inflation Surge

The CPI increase recorded in July 2021 is due to the increase in the food product index by 2.8% and the increase in non-food products by 1.8%, said the High Commission for Planning (HCP), in its note related to the CPI for July 2021. Regarding non-food products, the variations range from a 0.3% drop for "Communication" to a 5.2% increase for "Transport". During the month of July 2021, the CPI recorded an annual increase of 0.4%, due to the increase in the food product index and the non-food product index by 0.4%.

The increases observed in the food product rankings between June and July are attributable to the rise in "Fish and seafood", "Meats", "Oils and fats", "Vegetables", and "Coffee, tea and cocoa". On the other hand, prices fell by 1.4% for "Fruits" and 0.3% for "Mineral waters, refreshing drinks, fruit and vegetable juices". As for non-food products, the increase mainly concerns "fuel" prices, which are up 3.2%.

At the city level, increases in the CPI were recorded in Al-Hoceima, Casablanca, Tetouan, Marrakech, Fez, Safi and Beni-Mellal, Meknes, Kenitra, Rabat, Dakhla and Errachidia, against a drop in Laayoune. It should be noted that in July 2021, the underlying inflation indicator, which excludes volatile price products and regulated price products, recorded an increase of 0.4% compared to June 2021 and 1.7% compared to July 2020.