RABAT (Reuters) – Morocco’s consumer price index rose by 8.3% year-on-year in September, driven mainly by a surge in foodstuff prices, the high commission for planning said on Thursday.
Food prices rose by 14.7% while non-food inflation increased by 4.4%. On a month-on-month basis, the index rose by 1%.
Core CPI, which excludes goods subject to price volatility, increased 7% year-on-year and 0.8% month-on-month.
Morocco’s central bank raised its benchmark interest rate by 50 basis points to 2% last month, citing the need to ensure price stability.
(Reporting by Ahmed Eljechtimi; Editing by Gareth Jones)
