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HCP: Consumer prices stagnate in March 2019

The consumer price index (CPI) experienced, during the month of March 2019, a stagnation compared to the previous month, indicates the High Commission of the Plan (HCP).

This stagnation is the result of the 0.3% drop in the food index and the 0.2% rise in the non-food index, explains the HCP in a briefing note on CPI last March.

The decreases in food products observed between February and March 2019 mainly concern “fish and seafood” with 2.6%, “vegetables” with 1.3%, “oils and fats” with 0.9% and “Milk, cheese and eggs” with 0.6%, says the HCP, adding that prices have, however, increased by 0.4% for “fruits”.

For non-food products, the increase mainly concerned “fuel” prices, with 5.2%, the note continues.

By city, the note shows that the largest falls in the CPI were recorded in Laayoune with 0.6%, in Tetouan and Al-Hoceima with 0.3% and in Casablanca and Rabat with 0.2%. On the other hand, increases were recorded in Guelmim with 0.5%, in Oujda with 0.3% and in Agadir and Fez with 0.2%.

Compared to the same month of the previous year, the CPI fell 0.1% in March 2019, says the same source, indicating that this variation is due to the drop in the food index by 1.8% and the increase of non-food products by 1.1%.

As for non-food products, the variations range from a rise of 0.3% for “Communication” to 3.4% for “Education”.

Under these conditions, the underlying inflation indicator, which excludes products with volatile prices and products with public tariffs, would have experienced during March 2019 a stagnation compared to February 2019 and an increase of 0.8% compared to March 2018, concludes the note.

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