(3 minutes read)
Demonstrations were held recently in different cities of Morocco to protest against the soaring prices of foodstuffs. The protest was called by the coalition of left-wing parties In Casablanca. The cost of living has been going up in the North African country. Protest marches were taken out in Rabat, Tangier and Marrakech
Demonstrations were held recently in different cities of Morocco to protest against the soaring prices of foodstuffs. The protest was called by the coalition of left-wing parties In Casablanca. The cost of living has been going up in the North African country. Protest marches were taken out in Rabat, Tangier, and Marrakech.
Inflation has put the government under fire from trade unions, the parliamentary opposition, and the local media. A sharp rise in food prices in the middle of the holy month of Ramadan, when people’s consumption level goes up, has created concerns among the public.
Read Also:
https://trendsnafrica.com/morocco-up-bank-rate-to-further-stem-inflation/
https://trendsnafrica.com/manganese-extraction-operation-starts-in-northern-morocco/
https://trendsnafrica.com/aptiv-opens-the-seventh-plant-in-morocco/
To contain the inflation, which ruled over 3% in the first quarter of 2023, compared to +0.3% in the same period last year, the Central Bank of Morocco raised its key interest rate by 50 basis points to 3% on March 21. The rise in prices is mostly affecting low-income and vulnerable households. Since September 2022, the Central Bank of Morocco has raised its key rate thrice.
