The High Commission for Planning (the official body in charge of statistics) said in a statement on Tuesday that the rise in inflation is due to the rise in food prices by 4.3% and non-food prices by 2 .3%.
On a monthly basis, the inflation rate remained stable in January compared to the previous December.
Last December, the Central Bank predicted that the Moroccan economy would grow by 6.7% in 2021, due to favorable climatic conditions for the agricultural season, and the country’s progress in the vaccination campaign against the coronavirus.
The Central Bank also expects inflation of 1.4% in 2022 and 2.1% in 2023, the statement said.
The Central Bank justified the expectations of accelerating inflation by the increase in prices on the world markets as well as those of certain foodstuffs.
Last week, the Minister of Industry and Trade, Riad Mazur, announced that the government had taken measures to reduce the prices of products and services, such as profit margins and limit speculation, to counter the recent increase in price.
Moroccan markets are experiencing successive increases in the prices of basic raw materials particularly, as well as energy derivatives, which are recent increases in many countries, due to supply chain problems and high oil prices.
