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Not all food categories saw a decrease. Vegetables became more expensive, with prices rising by 1.7%. Oils and fats also saw a price increase of 1.4%, and beverages like coffee, tea, and cocoa rose by 0.5%.
Morocco’s Consumer Price Index (CPI) experienced a modest decline of 0.3% in October 2024, according to the latest report from the High Commission for Planning (HCP).
This drop is mainly attributed to lower food prices (0.5%) and a slight decrease in the cost of non-food goods (0.1%). Despite this, there are signs of inflationary pressures in certain areas, especially when comparing the current figures to those from a year ago.
Food prices were a major factor in the CPI movement. Among the largest declines, fruits saw a drastic drop of 3.4%, followed by a 2.7% decrease in meat prices. Other food items that experienced price reductions included mineral water, soft drinks, and fruit and vegetable juices, which fell by 0.9%, fish and seafood (down 0.7%), and dairy products such as milk, cheese, and eggs (down 0.2%).
However, not all food categories saw a decrease. Vegetables became more expensive, with prices rising by 1.7%. Oils and fats also saw a price increase of 1.4%, and beverages like coffee, tea, and cocoa rose by 0.5%.
This fluctuation in food prices reflects both global agricultural market shifts and local supply changes. While essentials like fruits and meat became more affordable, vegetables and oils became pricier, which impacts household budgets differently across regions.
The CPI variations were not uniform across Morocco, with some regions experiencing more significant price changes than others. The most substantial price drop was observed in Al Hoceima, where the CPI decreased by 1.8%. Other cities reporting notable decreases included Oujda and Beni Mellal, both seeing a 1.0% drop, followed by Safi (down 0.8%), Marrakech (down 0.7%), and Guelmim (down 0.6%).
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Other regions also experienced price reductions, albeit more modest, including Tetouan (down 0.5%), Agadir (down 0.3%), Fez, Kenitra, Meknes, Tanger, Laayoune, and Settat, all seeing a 0.2% decrease. Rabat recorded the smallest drop of 0.1%. In contrast, Errachidia was the only region to experience a slight increase in the CPI, with a 0.2% rise.
