Inflation would have fallen significantly in 2024 to be around +0.9%, after having reached +6.1% in 2023, in the wake of the decline in food inflation, according to the High Commission for Planning ( HCP).
Underlying inflation, which excludes prices subject to state intervention and products with volatile prices, would also have been established at a significantly lower level, compared to the rate recorded in 2023, i.e. +2 .4%, instead of +5.9%, indicates the HCP in its recent economic update.
In the fourth quarter of 2024, the increase in consumer prices would have stood at +0.7% in annual variation, marking a clear slowdown compared to +1.3% recorded in the third quarter, notes the HCP.
This development would have reflected both the decline in the prices of non-food products to +0.7%, instead of +1.4% a quarter previously and the drop in those of food products, dropping to +0. 7%, after +1%, explains the same source.
Conversely, reports MAP, underlying inflation would have increased slightly, standing at +2.5%, after +2.3% a quarter earlier. This slight increase would mainly reflect the prolonged progression of its food component in line with the rise in meat prices.
The decline in non-food inflation in the fourth quarter of 2024 would come, above all, from the fall in energy prices, whose contribution to the evolution of the overall index would have fallen by 0.4 points compared to the quarter. precedent, under the effect of the decline in the prices of petroleum products internationally.
The latter would have benefited from weak global demand, particularly from China, combined with prospects of excess supply.
In terms of prices of food products, the slowdown would have been attributable to the continued drop in prices of fresh products, reaching 8% in the fourth quarter of 2024 year-on-year.
