RABAT (Reuters) – Morocco’s consumer price index (CPI) in February rose by 10.1% from a year earlier as food prices soared, the statistics agency HCP said late on Tuesday.
Food prices rose by 20.1% while non-food inflation increased by 3.6%. On a month-on-month basis, the index rose by 1.7%.
Core CPI, which excludes goods subject to price volatility, increased 8.5% year-on-year and 0.8% month-on-month.
Earlier in the day, the central bank said it raised its benchmark interest rate by 50 basis points to 3% to tame inflation.
(Reporting by Ahmed Eljechtimi; Editing by Jacqueline Wong)
