Inflation Eases: A Closer Look at Morocco's Economic Landscape

Morocco's inflation rate dropped to 0.4% in May, down from 0.7% in April, according to the country's statistics agency. Food prices increased by 0.5% from the previous year, while non-food inflation rose by 0.3%. Core inflation, excluding volatile items like food, rose 1.1% year-on-year.

In a notable shift, Morocco's statistical agency reported a decrease in the annual inflation rate to 0.4% in May from 0.7% the month before. This change underscores shifting economic dynamics in the North African nation.

The primary catalyst for inflation, food prices, saw a 0.5% increase when compared to the same period last year. Meanwhile, non-food inflation experienced a modest rise of 0.3%, highlighting a nuanced inflationary landscape.

Core inflation, a metric that omits volatile items like food, experienced a year-on-year increase of 1.1%, maintaining stability on a monthly basis. These figures provide insight into the country's economic health and consumption patterns.

(With inputs from agencies.)