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|20 July, 2018

Morocco’s CPI eases to 2.5 y/y in June

Food inflation stood at 3.1% compared with 3.4 percent in May

Imafe used for illustrative purpose. A vendor sells traditional cakes of fried honey and flour pastries to customers during the first day of Ramadan in the medina of the Moroccan city of Oujda, June 18, 2015.

Imafe used for illustrative purpose. A vendor sells traditional cakes of fried honey and flour pastries to customers during the first day of Ramadan in the medina of the Moroccan city of Oujda, June 18, 2015.

REUTERS/Youssef Boudlal

RABAT  - Morocco’s consumer price inflation slowed to 2.5 percent year-on-year in June from 2.6 percent in May, the High Planning Commission said on Friday.

Food inflation stood at 3.1 percent compared with 3.4 percent in May, while non-food prices rose 2 percent from 1.9 percent in May, the commission said in a statement.

Communication costs were flat, while inflation of goods and miscellaneous services stood at 6.4 percent after 6.5 percent in May, the data showed.

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On a month-on-month basis, the consumer price index rose 0.3 percent in June compared with 0.5 percent in May, as food price inflation rose 0.3 percent and fuel prices 1 percent.

Earlier this month, the commission forecast Morocco’s annual inflation would rise from 0.8 percent in 2017 to 1.7 percent in 2018 and 1.3 percent in 2019.

(Reporting by Ahmed Eljechtimi Editing by Alison Williams) ((ahmed.eljechtimi@thomsonreuters.com;))