Morocco’s Inflation Rate Rises to 1.7% in April

Morocco’s annual inflation rate, measured by the consumer price index, rose to 1.7% in April from 0.9% a month earlier, the statistics agency said on Friday. Food prices, the main driver of inflation in the country, rose 0.6% ⁠from a year ⁠earlier, while non-food prices increased 2.5%, the agency said in a statement. Transport prices rose 8.4% following a ⁠surge in fuel prices due to the conflict in the Middle East. Core inflation, which excludes more volatile goods and government-controlled prices, was down 0.3% year-on-year and up 0.1% month-on-month. To cushion the impact of ⁠geopolitical ⁠tensions on the domestic market, the government plans to add 20 billion dirhams ($ 2.17 billion) to its 2026 budget, including increased subsidies to keep public transport, cooking gas and electricity prices stable.