ALBAWABA – The Higher Planning Commission in Morocco announced Monday that the annual inflation rate in April has increased 7.8 percent on the April rate last year, 2022, Arab economic news platform Eqtisaduna reported.
According to the commission, the inflation hike is due mainly to the increase in foodstuff consumer price index, by 16.3 percent.
Meanwhile, the price index for non-foodstuff consumer goods increased by 2 percent on average. Whereas the price index for transportation declined 0.1 percent, and hotels and restaurants climbed 6.7 percent.
The core inflation index, which does not include both high-volatility and fixed-price commodities and material, has increased by 0.3 percent in April, the commission stated, compared to March, 2023. Compared to April last year, the index increased by 7.6 percent.
Morocco has also been enduring the worst draught in 40 years, the news outlet said.
According to the Moroccan government, these hikes in inflation and consumer product prices are a result of the Russian-Ukrainian war and the repercussions of the Covid-19 pandemic.
