Morocco’s CPI eases to 2.5 y/y in June

RABAT (Reuters) - Morocco’s consumer price inflation slowed to 2.5 percent year-on-year in June from 2.6 percent in May, the High Planning Commission said on Friday.

Food inflation stood at 3.1 percent compared with 3.4 percent in May, while non-food prices rose 2 percent from 1.9 percent in May, the commission said in a statement.

Communication costs were flat, while inflation of goods and miscellaneous services stood at 6.4 percent after 6.5 percent in May, the data showed.

On a month-on-month basis, the consumer price index rose 0.3 percent in June compared with 0.5 percent in May, as food price inflation rose 0.3 percent and fuel prices 1 percent.

Earlier this month, the commission forecast Morocco’s annual inflation would rise from 0.8 percent in 2017 to 1.7 percent in 2018 and 1.3 percent in 2019.

(Reporting by Ahmed Eljechtimi; Editing by Alison Williams)

2018-07-20 14:16:42

© 2018 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.