Moroccan consumer prices ease
Rabat, February 21, 2010
Moroccan consumer prices eased 0.7 per cent year-on-year in January as falling food prices more than offset increases in other areas, according to the state High Planning Commission.
Food prices, which account for more than 40 per cent of the inflation gauge, declined 2.4 per cent while non-food prices rose 0.8 per cent, it said.
But in a monthly basis, the inflation rate rose 0.2 per cent in January from December due to a 0.2 per cent growth in food prices, the Commission said.
The government expects this year's inflation to remain at the same level of one per cent recorded in the previous year versus 3.9 per cent in 2008 - which was the highest level in 10 years mainly because of high food and oil prices.-Reuters