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Morocco's CPI up 8.3 pct in Nov.

RABAT
2022-12-23 02:18

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RABAT, Dec. 22 (Xinhua) -- Morocco's consumer price index (CPI) rose by 8.3 percent year on year in November, the High Commission for Planning (HCP) announced Thursday.

Food prices rose by 14.4 percent, while non-food prices 4.5 percent, said HCP.

The core CPI, which excludes energy and subsidized food products, rose by 7.6 percent year on year and 0.7 percent month on month, the state planning agency added.

The CPI increase was driven mainly by higher prices of fuel, dairy products, oils and vegetables, according to the HCP.

Morocco's central bank raised its benchmark interest rate by 50 basis points to 2.5 percent on Tuesday, aiming to curb inflation and achieve price stability, the bank said in a statement released after its fourth quarterly meeting of 2022.
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