Morocco's annual CPI up 8.1% in October
Reuters
Published Nov 22, 2022 05:10AM ET
Updated Nov 22, 2022 05:44AM ET
RABAT (Reuters) - Morocco's consumer price index rose by 8.1% year-on-year in October, driven mainly by a surge in foodstuff prices, the high commission for planning said on Tuesday.
Food prices rose by 13.8% while non-food inflation increased by 4.3%. On a month-on-month basis, the index rose by 0.4%.
Core CPI, which excludes goods subject to price volatility, increased 7.1% year-on-year and 0.6% month-on-month.
Morocco's central bank raised its benchmark interest rate by 50 basis points to 2% in September, citing the need to ensure price stability.
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Written By: Reuters
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