Morocco's inflation rises to 5% in August
Morocco's inflation, measured by the consumer price index, accelerated to 5% year-on-year in August, from 4.9% a month earlier.
Food prices, the main driver for inflation in Morocco, rose by 10.4% from a year earlier, while non-food inflation increased by 1.3%. On a month-on-month basis, the index rose by 0.3%.
Core inflation, which excludes more volatile prices, stood at 4.9% year-on-year and 0.2% month-on-month.
Key Takeaways
Inflation—which means the prices of goods and services going up over time—has been a big problem for many countries in and outside of Africa this year. There are different levels and causes of inflation, but generally, it affects the purchasing power of people, the economy, and even the government. While governments all across the continent have had to grapple with inflationary pressures, some have had it worse than others. Morocco’s figures represent some of the fairest compared to double digits in Nigeria and Ghana, for instance.
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