Inflation in Morocco increased by 0.3% on a monthly basis last January (Al Jazeera)
The High Commission for Planning in Morocco (a government agency) said on Thursday that the inflation rate rose 2.9% last January on an annual basis.
Due to the rise in food prices, which is the main driver of inflation in the Kingdom.
The delegation added - in its monthly bulletin - that the prices of food items rose by 4.2%, while the prices of non-food items increased by 0.9%.
The bulletin stated that inflation increased last January, 0.3% on a monthly basis.
Annual inflation fell to 6.1% last year from 6.6% in 2022, and the Central Bank of Morocco expects a further decline to 2.4% this year, with a decline in the prices of imported goods and increased stability in food markets.
Morocco is facing a difficult situation due to drought, amid risks facing the agricultural sector, which represents the backbone of the country's gross domestic product.
Large areas of the country depend on irrigated agriculture, which depletes the necessary amounts of water allocated to people.
Moroccan Minister of Equipment and Water, Nizar Baraka, presented reports in the House of Representatives, presenting a bleak picture of the water situation after years of rain decline.
The report revealed that the level of groundwater decreased during 2022 and 2023 due to excessive use of it.
Source: Al Jazeera + agencies