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.
Morocco: Inflation drops to 0.3 per cent in January
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.