Morocco Sees 8.1% Fuel Price Surge in June Amid Overall Price Index Drop

The consumer price index (CPI) fell by 0.3%, due to a 1.3% drop in the food products index and a 0.4% increase in the non-food products index, according to the High Commission for Planning (HCP) in its monthly flash of June.

The increase in the non-food products index is mainly due to the 8.1% increase in fuel prices in June. An upward trend that continued in July where prices varied according to the distribution networks, from 25 to 35 cents per liter.

Thus, diesel went up to an average of 8.25 dirhams/liter and gasoline to 9.24 dirhams/liter. At the same time, on international markets, the price of oil was still below the $40 per barrel mark.

Over the same period, the HCP notes a drop in food prices observed between May and June 2020, particularly in "fish and seafood" (6.5%), "vegetables" (5.1%), "meat" (1.3%), "oils and fats" (0.8%), "coffee, tea and cocoa" (0.7%) and "milk, cheese and eggs" (0.2%).

The cities that recorded the largest declines in the CPI, according to the HCP, are Al Hoceima (2.0%), Tetouan and Safi (1.2%), Beni-Mellal (1.1%), Marrakech and Errachidia (0.8%), Fez (0.7%), Settat (0.6%), Tangier and Guelmim (0.4%). However, increases were recorded in Meknes and Rabat with 0.2% and 0.1% respectively.

Compared to the same period last year, the CPI fell by 0.7%, the HCP said. A decline caused by the 1.6% drop in the food products index and a variation in the non-food products index with a 4.7% drop in the "Transport" category and a 3.1% increase in "Education".