Moroccan inflation stable at 1.1 pct y/y in October
A woman shops in a photo illustration at vegetable market in Casablanca, Morocco, June 29, 2017. REUTERS/Youssef Boudlal
RABAT (Reuters) – Morocco’s annual inflation rate stayed at 1.1 percent in October, the High Planning Commission said on Thursday.
Inflation had dropped to that level in September, from 1.7 percent in August.
Food inflation dropped slightly to 0.2 percent in October, from 0.6 percent a month earlier, while rises in non-food prices slowed to 2 percent from 2.1 percent.
Inflation of goods and miscellaneous services rose to 6.5 percent in October from 6.3 percent in September. Rises in communication costs remained unchanged at 0.3 percent.
On a month-on-month basis, the consumer price index rose 0.1 percent in October, slowing from a 0.3 percent increase in September while food price inflation remained unchanged at 0.5 percent.
The planning commission forecast Morocco’s annual inflation rate would be 1.7 percent in 2018, up from 0.8 percent in 2017, and then slow to 1.3 percent in 2019.
Reporting by Ahmed Eljechtimi; Editing by Susan Fenton
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