Morocco: Inflation drops to 0.3 per cent in January

Morocco’s annual consumer price inflation eased to 0.3 percent in January from 0.6 percent in December, mainly due to falling food prices, the country’s High Planning Authority said on Monday.

Food inflation eased to 0.2 percent from 1.1 percent from January 2015 to January 2016. Non-food price inflation rose at 0.6 percent, from 0.2 percent in December.

Transport costs fell 0.4 percent, while hotels and restaurants were 2.3 percent more expensive, the agency said.

On a month-on-month basis, the consumer price index eased to 0.1 percent in January, down from 0.5 percent in December. Food price inflation fell 0.3 percent, while non-food inflation dropped 0.1 percent.

Inflation Rate in Morocco averaged 1.45 percent from 2008 until 2016, reaching an all time high of 5.20 percent in May of 2008 and a record low of -1.60 percent in December of 2009.

The north African state’s government has already warned that the economy is expected to slow on the back of lower-than average rainfall at the beginning of 2016.