ECONOMIC HEADLINES
| MOROCCO | INFLATION | Consumer prices up 8,3% y-o-y in September 2022

In September 2022, the Consumer Prices Index rose by 1.0% compared to the previous month, taking into account the increase of 1.7% in the food index and 0.6% in the non-food index. Compared to the same month of last year, the CPI surged by 8.3%.
Note that the underlying inflation indicator, which excludes products with volatile prices and products with public tariffs, in-creased by 0.8% compared to August 2022 and by 7.0% compared to September 2021.

| BURKINA FASO | INFLATION | An inflation rate of 16.5% in September 2022
According to the National Institute of Statistics and Demography (INSD), Burkina Faso's Harmonized Consumer Prices Index in-creased by 0.3% in September 2022 compared to the previous month. Year-on-year, the inflation rate stands at 16.5%.

| MOROCCO | PORT TRAFFIC | A decrease of 2% at the end of September 2022
At the end of September 2022, traffic carried through the ports managed by the ANP reached an overall volume of 67.1 million tons, showing a decline of 2.2% compared to the same period of the previous year.

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