Compared with the same month of the previous year, the CPI registered a decline of 0.1% during the month of July 2020, as a consequence of the drop in the food index of 1.1% and the increase that of non-food products of 0.5%, according to the High Commission for Planning (HCP). This variation is the result of the 1.6% drop in the food product index and the 0.5% increase in the non-food product index.
The decreases in food products observed between June and July 2020 mainly concern “vegetables” with 8.6%, “fish and seafood” with 3.5%, “milk, cheese and eggs” with 0.9% , “meat” with 0.7% and “oils and fats” with 0.5%. For non-food products, the increase mainly concerned the prices of “fuels” with 6.9% specifies the note.
At the city level, there are decreases. The most significant of the CPI were recorded in Oujda with 1.1%, in Fez with 0.7%, in Al-hoceima with 0.6%, in Tangier with 0.5%, in Casablanca, Kénitra and Settat with 0.3% and in Marrakech and Meknes with 0.2%. On the other hand, increases were recorded in Beni-Mellal with 1.4% and in Dakhla with 0.5%.
For non-food products, the variations range from a drop of 1.6% in “Transport” to an increase of 3.1% in “Education”. Under these conditions, the underlying inflation indicator, which excludes products with volatile prices and products with public prices, would have experienced during the month of July 2020 a stagnation compared to the month of June 2020 and an increase of 0.7% compared to July 2019, concludes the note.
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