Home » inflation rises to 8% in August 2022

inflation rises to 8% in August 2022

by archyde

The consumer price index (CPI) increased by 0.3% in August 2022 compared to the previous month, indicates the High Commission for Planning (HCP).

This variation is the result of the 1.5% increase in the index of food products and the decrease of 0.5% in the index of non-food products, explains the HCP in an information note relating to the CPI for the month of August 2022.

The increases in food products observed between July and August 2022 mainly concern “Fruits” with 9.6%, “Fish and seafood” with 2.2%, “Milk, cheese and eggs” with 1.4% , “Vegetables” and “Coffee, tea and cocoa” with 1.1%, “Meat” with 1%, “Oils and fats” with 0.5% and “Sugars, jams, honey, chocolates and confectionery” with 0.4%.

For non-food products, the decline mainly concerned “Fuel” prices with 10.1%, the same source said.

The HCP also reports that the most significant increases in the CPI were recorded in Beni-Mellal with 1.3%, in Al-hoceima with 1.1%, in Agadir and Safi with 0.9%, in Oujda and Tetouan with 0.8%, in Tangier and Laayoune with 0.6%, in Guelmim with 0.5%, in Meknes with 0.4%, in Fez with 0.3% and in Casablanca with 0.2%.

On the other hand, decreases were recorded in Settat with 0.6%, in Rabat and Errachidia with 0.4% and in Marrakech with 0.2%.

CPI: +8% over a rolling year

Compared to the same month of the previous year, the consumer price index recorded an increase of 8% during the month of August 2022 as a result of the increase in the index of food products by 14.1% and that of non-food products by 4%. For non-food products, the variations range from an increase of 0.1% for “Health” to 12.8% for “Transport”.

Under these conditions, the core inflation indicator, which excludes products at volatile prices and products at public prices, would have increased by 0.3% in August 2022 compared to the month of July 2022 and 6.6% compared to August 2021.

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