According to the High Commission for Planning, Morocco’s inflation rate exceeded 10.1% on an annual basis at the end of February, marking an unprecedented number in the country’s history.
This surge in inflation was primarily caused by a staggering 20.1% increase in the prices of food items and a 3.6% increase in non-food items, the inflation rates for non-food items ranged between a 0.4% increase in health and an 8.3% increase in transportation.
Previously, in January, inflation was recorded at 8.9%, while the average rate for last year was 6.6%, this rate has been described by Bank Al-Maghrib as the highest since the 1990s.
The delegate’s data reveals that the increase in food prices between January and February 2023 was most significant in vegetables, which surged by 17.8%, followed by fruits, which rose by 5.7%, and meat, which increased by 4.3%.
However, the prices of fish and seafood decreased by 1.0%. On the other hand, the prices of fuel decreased by 1.3% in the non-food category.
At the urban level, the highest inflation rates were recorded in Al Hoceima, Safi, Beni Mellal, Errachidia, and Settat, which rose by 2.6%, 2.5%, 2.5%, 2.4%, and 2.3%, respectively, the lowest inflation rates were recorded in Guelmim, Casablanca, and Laayoune, which rose by 1.3% and 1.2%, respectively.