ECONOMIC HEADLINES
| MOROCCO | KEY RATE | BAM keeps the key rate unchanged at 1.5%
The Board of Bank Al-Maghrib held its second quarterly meeting of 2021 on Tuesday, June 22nd. The latter decided to keep the key rate unchanged at 1.5%. Note that Bank Al-Maghrib forecasts a GDP growth of 5.3% in 2021 driven by a 3.6% increase in the add-ed value of non-crop activities and 17.6% in that of crop activities.
| MOROCCO | CPI | An increase of 1.9% y-o-y in May 2021
In May 2021, the Consumer Prices Index increased by 0.3% from the previous month. This evolution takes into account a 0.5% increase in the food index and 0.1% in the non-food index. Compared to the same month a year earlier, the CPI rose by 1.9%.
Note that the underlying inflation indicator, which excludes products with volatile prices and products with public tariffs, in-creased by 0.1% compared to April 2021 and by 1.0% compared to May 2020.
| BURKINA FASO | INFLATION | Prices up 2.3% y-o-y in May 2021
According to the National Institute of Statistics and Demography, the Harmonized Consumer Prices Index of Burkina Faso in-creased by 1.7% in May 2021 compared to the previous month. Year-on-year, the inflation rate stands at +2.3% below the commu-nity convergence threshold of 3.0% set by WAEMU.
Read more.
