Inflation rises to 3.7% in April 2008

Rabat - The inflation rate in Morocco rose to 3.7% in April 2008 up from 3.2% in March, and 2.7% in February of the same year, Bank Al Maghreb said on Tuesday.
 
   The hike of global prices is the main cause of the rising inflation, the central bank said in a press release, adding that underlying inflation also increased to 4.8% up from 4.7% in March.

   Bank Al Maghreb said after its second quarter meeting in Rabat on Tuesday that in the case of non materialization of main risk factors, inflation rate in quarter one of 2009 would stand at 2.7%, up from 2.2% in the first three months of 2008.

   The global price hike is also expected to hoist the 2009 second quarter inflation rate to 3.4%, while it will register 2.4% during the rest of the year, the document concluded.

MAP