Stagnation of the consumer price index, resulting from the 0.1% drop in the food products index and the 0.1% increase in the non-food products index. The underlying inflation indicator increased by 0.3% over one month and 2.4% over one year.
The consumer price index experienced stagnation during the month of September 2024 compared to the previous month. This variation is the result of the 0.1% drop in the food products index and the 0.1% increase in the non-food products index.
The declines in food products observed between August and September 2024 mainly concern “Fish and seafood” with 6.1%, “Fruits” with 2.2% and “Mineral waters, refreshing drinks, fruit and juice juices”. vegetables” with 0.3%. On the other hand, prices increased by 2.7% for “Vegetables”, by 0.4% for “Meat” and “Coffee, tea and cocoa” and by 0.3% for “Oils and fats” . For non-food products, the drop mainly concerned the prices of “Fuels” with 3.2%.
The largest increases in the CPI were recorded in Guelmim with 0.6%, in Dakhla with 0.5%, in Settat with 0.4%, in Kénitra, Rabat, Laâyoune, Safi, Beni-Mellal and Errachidia with 0.3% and in Casablanca with 0.2%. On the other hand, decreases were recorded in Al-hoceima with 2.7%, in Agadir with 0.7%, in Tetouan and Tangier with 0.2% and in Fez and Oujda with 0.1%.
Compared to the same month of the previous year, the consumer price index recorded an increase of 0.8% during the month of September 2024 as a result of the increase in the food products index of 0.6% and that of non-food products of 1.0%. For non-food products, variations range from a drop of 2.4% for “Transport” to an increase of 3.6% for “Housing, water, electricity, gas and other fuels”.
Under these conditions, the underlying inflation indicator, which excludes products with volatile prices and products with public prices, would have seen an increase of 0.3% during the month of September 2024 compared to the month of August 2024 and 2.4% compared to September 2023.
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