Inflation in Morocco rose 2% in January year-on-year, according to an official statistical body.
The High Commission for Planning indicated that the recorded inflation figure came after the rise in food prices by 3.3 percent, and the prices of non-food items by 1.1 percent. On a monthly basis, the inflation rate rose 0.8 percent in January compared to last December.
In December, the central bank decided to cut the key interest rate to 2.50 percent, expecting inflation to continue to decline in 2024 and 2025. In 2024, the inflation rate rose by 0.9 percent, as the Kingdom was affected by the rise in the prices of basic materials, especially energy, and the continuation of drought years.
Source (Anadolu Agency, Edited)
