Morocco consumer price inflation jumps to 1.2 pct y/y
RABAT May 18 (Reuters) – Morocco’s consumer price inflation jumped to an annual 1.2 percent in April from 0.3 percent in March after a surge in food prices, official data showed on Friday.
Food prices, which make up about 40 percent of the consumer price index’s total weighting, rose 2.7 percent in April compared with a year ago, data from the High Planning Authority showed. A month earlier, food prices were up an annual 0.8 percent.
Morocco revised down growth projections for 2012 after drought slashed its agricultural output.
(Reporting By Souhail Karam)