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The consumer price index (CPI) fell in July 2020 for the fourth consecutive month, according to figures released recently by the High Commission for Planning (HCP).
In an information note on the consumer price index for the month of July 2020, the High Commission indicated that the consumer price index has experienced a drop of 0 over the past month. , 3% compared to the previous month.
“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”, explained this public institution in charge of collection. , production and analysis of economic, demographic and social information in Morocco.
As a reminder, in June 2020, the consumer price index was down 0.3% compared to the previous month, following the 1.3% decline in the food product index and the increase in 0.4% of the non-food products index. A month earlier (May), the High Commission attributed the 0.2% drop in the CPI to the 0.6% drop in the food index and the 0.1% increase in the non-food products index.
According to the latest surveys, the decreases in food products observed between June and July 2020 mainly concerned “vegetables” (8.6%), “fish and seafood” (3.5%), “milk, cheese. and eggs ”(0.9%),“ meat ”(0.7%) and“ oils and fats ”(0.5%).
For non-food products, the increase mainly concerned “fuel” prices which climbed 6.9% during the same period, according to data released by the HCP.
As for the most significant drops in the CPI, they were recorded in Oujda (1.1%), in Fez (0.7%), in Al Hoceima (0.6%), in Tangier (0.5% ), in Casablanca, Kénitra and Settat (0.3%) and in Marrakech and Meknes (0.2%), indicated the High Commission, stressing, on the other hand, that increases were recorded in Béni Mellal (1, 4%) and Dakhla (0.5%).
By way of comparison, the decreases in food products observed between May and June 2020 mainly concerned “fish and seafood” (6.5%), “vegetables” (5.1%), “meats” ( 1.3%), “oils and fats” (0.8%), “coffee, tea and cocoa” (0.7%) and “milk, cheese and eggs” (0.2%).
Note, with regard to non-food products, that the increase concerned mainly the prices of “fuels” (8.1%), as the public institution had noted in a previous information note.
Regarding the largest drops in the CPI observed during the same period, they were recorded in Al Hoceima (2.0%), in Tétouan and Safi (1.2%), in Béni Mellal (1.1 %), Marrakech and Errachidia (0.8%), Fez (0.7%), Settat (0.6%) and Tangier and Guelmim (0.4%).
Recall, on the other hand, that increases were recorded in Meknes and Rabat with 0.2% and 0.1% respectively, according to a note relating to the consumer price index for the month of June 2020.
Compared to the month of July of the previous year, the High Commission indicated that “the consumer price index recorded a decrease of 0.1% during the month of July 2020”, due to the decrease the food index by 1.1% and the increase in that of non-food products by 0.5%.
For non-food products, it appears that the variations range from a drop of 1.6% in “Transport” to an increase of 3.1% in “Education”, noted the HCP.
In these cases, “the underlying inflation indicator 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 the month of July 2019”, a concluded the High Commission.
Alain Bouithy
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