0.2% drop in the CPI and stagnation of the underlying inflation indicator during the month of December 2024
The consumer price index experienced, during the month of December 2024, a decrease of 0.2% compared to the previous month. This variation is the result of the decrease of 0,2% of the food products index and the stagnation of the non-food products index.
Declines in food products observed between November and December 2024 mainly concern “Vegetables” with 3.9%, “Fruits” with 2.3% and “Mineral waters, refreshing drinks, fruit and vegetable juices” with 0.2%. On the other hand, prices increased by 1.0% for “Meat”, by 0.8% for “Oils and fats”, by 0.6% for “Milk, cheese and eggs” and by 0.3 % for “Coffee, tea and cocoa”. For non-food products, the increase mainly concerned the prices of “Fuels” with 0.3%.
Under these conditions, the underlying inflation indicator, which excludes products with volatile prices and products with public prices, would have experienced stagnation during the month of December 2024 compared to the previous month.
Increase in the annual CPI of 0.9% and the annual underlying inflation indicator of 2.4%
The average annual CPI recorded, at the end of the year 2024, an increase of 0.9% compared to the year 2023. Consequence of the increase in the index of food products of 0.8% and that non-food products by 1.2%. The variations recorded for non-food products range from a decrease of 1.3% for “Health” to an increase of 3.4% for “Restaurants and hotels”.
On this basis, the underlying inflation indicator would have increased by 2.4% during the year 2024 compared to the year 2023.
The biggest increases in Laâyoune and Guelmim
The largest increases in the annual CPI were recorded in Laâyoune with 3.0%, in Guelmim with 2.2%, in Dakhla and Safi with 1.7%, in Agadir with 1.6%, in Fez, Rabat and Tetouan with 1.5%, in Marrakech with 1.3%, in Errachidia with 1.1%, in Casablanca and Al-hoceima with 0.8%, in Kenitra with 0.7% and in Tangier and Settat with 0.6%.
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