Morocco's CPI drops 0.2 pct in April- Planning agency

Credit: REUTERS/YOUSSEF BOUDLAL

RABAT, May 22 (Reuters) - Morocco's consumer price index dropped 0.2 percent in April from a year earlier, after falling 0.1 percent year-on-year the previous month, the high commission for planning said on Wednesday.

Food prices fell by 1.2 percent year-on-year in April after rising by 1.8 percent year-on-year in March. Non-food prices increased year-on-year by 0.8 percent in April compared with a rise of 1.1 percent a month earlier.

On a month-on-month basis, the consumer price index rose 0.6 percent in April.

Core annual inflation stood at 0.3 percent on a month-on-month basis and 1.1 percent year-on-year.

The central bank expects inflation to drop to 0.6 percent in 2019 from 1.9 percent in 2018 before picking up to 1.1 percent in 2020.

(Reporting by Ahmed Eljechtimi Editing by Ulf Laessing)

((ahmed.eljechtimi@thomsonreuters.com;))

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