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Cost-of-living index up 3.2 pct in Morocco due to food price hike
Friday, April 18, 2008; Posted: 03:41 PM
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RABAT, Apr 18, 2008 (Xinhua via COMTEX) -- -- Morocco's cost-of-living index for March rose 3.2 percent in comparison to the same month last year mainly due to food price hike, the Rabat-based High Commission for Planning (HCP) said on Friday.

Food prices have augmented 5.5 percent, while prices of non- food products have also risen 1.2 percent, HCP said in its monthly report.

Compared to February, the cost-of-living index in March also increased by 0.9 percent due to the 1.9 percent rise of food prices and 0.1 percent rise of non-food prices, according to the HCP report.

Last week, the Moroccan government said it will not change local food prices in order not to undermine the population's purchasing power.

The government cut taxes on the import of soft and durum wheat, and took the decision to subsidize soft wheat in order to maintain the price of bread at 1.2 Moroccan Dirham (about 0.16 U.S. dollars) .

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