Morocco’s annual inflation rose to 0.9% in March, up from -0.6% in February, the statistics agency said on Wednesday.
Food prices, the main driver of inflation, increased 0.6% year-on-year, while non-food inflation rose 1.1%. Core inflation, which excludes more volatile goods, was up 0.6% from a year earlier and 0.1% month-on-month.
The rise in fuel prices following the Iran conflict led the Moroccan government to reintroduce subsidies for professional transporters, including taxis, buses and trucks, to keep prices stable.
Fuel subsidies, along with aid to keep electricity and cooking gas prices stable, would cost the government 1.6 billion dirhams ($170 million) monthly, said Fouzi Lekjaa, the minister in charge of the budget.
