Moroccan inflation increases to 1.6 %

The Higher Commission for Planning in Morocco announced that inflation in the third quarter of 2011 notably ascended to 1.6 per cent versus 0.2 per cent in the previous quarter. In addition, prices of meat products increased by 2.8%. The Commission, headed by Ahmed El Helimy said, in bulletin of which 'Arabstoday' has a copy, that consumer prices in the third quarter (CPI qq) increase to 1.2 per cent SA after they had been down to 0.6 per cent in the previous quarter. Food products prices were the main contributor to the increase in inflation  (increase by 2.8 per cent versus the previous quarter level). It was fresh food products including fish and vegetables that raised the prices to these levels, while core CPI rose to 1.3 per cent. The same sources added that it is expected for inflation to be contained at 1.1 per cent by the end of the year versus the same season of the previous year when inflation readings referred to 0.9 per cent. Core inflation is expected to reach 1.4 per cent versus 0.3 per cent in the same quarter of last year in parallel to a notable increase in dried food prices due to the rise in global food prices, especially cereals, oils and fats.