Ahram Online
Fall in telecoms costs counters a growth in food prices to bring down overall figure, shows data
Morocco’s consumer price inflation eased to an annual 1 per cent in May from 1.2 per cent in April due to a sharp drop in communication costs, official data showed on Wednesday.Food prices, which make up about 40 per cent of the consumer price index’s total weighting, rose 2.6 per cent in May compared with a year ago, data from the High Planning Authority showed. A month earlier, food prices were up an annual 2.7 per cent.
Communication costs fell by close to 27 per cent in the 12 months to end-May, HCP data showed.
Compared to the previous month, consumer prices rose 0.1 per cent in May, it added.
Morocco’s central bank expects inflation to average 1.4 per cent in 2012 from less than 1 per cent in 2011.
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