Annual inflation in Morocco eased to 0.3% in August, according to the High Commission for Planning (HCP), offering a modest reprieve for consumers but leaving many families still feeling the pinch from rising food costs.
The consumer price index (CPI) fell from 0.5% in July to 0.3% year-on-year in August, reflecting a broader slowdown in inflation compared with levels seen over the past two years. Non-food items rose by 0.3%, while food prices increased by 0.2%, highlighting that essential goods remain a key source of economic pressure.
Despite the overall deceleration, households continue to face significant price pressures on staple items, including vegetables, cereals, cooking oils, and select dairy products.
Experts note that these fluctuations, often driven by climatic challenges and production costs, create a perception of inflation that feels far higher than official statistics suggest.
“While official figures show a modest slowdown, the reality for Moroccan families is more complex. Food expenditures make up a large portion of household budgets, so even small price increases are felt sharply,” said an economic analyst familiar with the data.
Observers caution that the recent decline in inflation may represent a temporary stabilisation rather than a sustained trend. With the start of the school year approaching—a period traditionally marked by higher household spending—rising costs for essential goods threaten to weigh heavily on family budgets and consumer confidence.
Economic authorities are closely monitoring price developments, aware that localized spikes in staple goods, even if moderate in magnitude, can have outsized social and economic effects. While Morocco’s overall inflation rate remains below 1%, approaching levels seen in neighbouring economies, the persistence of food-related pressures underscores structural vulnerabilities in the cost-of-living landscape.
For policymakers, the challenge lies in balancing statistical improvements with tangible relief for households, ensuring that the slow pace of inflation translates into real, sustained support for Moroccan families navigating daily expenses.
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