Business
Food prices lift Morocco’s consumer price index to 8.2 pct y/y in March
Morocco’s consumer price index (CPI) in March rose by 8.2 percent from a year earlier, on a surge in food prices, the statistics agency HCP said early on Thursday.
Food prices rose by 16.1 percent from a year earlier while non-food inflation increased by 3 percent. On a month-on-month basis, the index rose by 0.1 percent.
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Core CPI, which excludes goods subject to price volatility, in-creased 8.1 percent year-on-year and 0.1 percent month-on-month.
Higher food prices triggered government restrictions on the export of some vegetables to European and African markets to reduce prices at home.
Last week, the government scrapped the value-added tax on agricultural inputs to help lower prices of fresh produce and
other agrifood products.
Morocco has also been importing beef cattle from Brazil since March after it lifted the import duty to reduce meat prices.
Read more: Thousands protest in Morocco over price hikes, ‘repression’