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Morocco inflation 0.9 per cent for 2011

Inflation in Morocco remained at 0.9 per cent on average in 2011

Reuters , Friday 20 Jan 2012
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Inflation in Morocco, as measured by consumer prices, remained at 0.9 per cent on average in 2011 - unchanged from the previous year and below the central bank's 1 per cent target, official data showed on Friday.

Food prices, which account for about 40 per cent of the consumer price index's total weighting, rose 1.3 per cent in 2011, the state's High Planning Authority said.

Underlying inflation, a gauge used by Morocco's central bank to set the benchmark interest rate and which excludes state tariffs and volatile prices, rose 1.3 per cent in 2011.

For December, the consumer price index declined 0.5 per cent from the previous month after food prices fell 1.2 per cent.

The latest central bank forecasts put economic growth for 2011 at between 4 and 5 per cent versus 4.5 per cent recorded in 2010.

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