
Morocco's annual inflation drops to 0.4% in May
Food prices, the main driver of inflation, rose 0.5% from a year earlier, while non-food inflation increased 0.3%.
Core inflation, which excludes more volatile goods such as food, was up 1.1% year-on-year and stable month-on-month.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
21 minutes ago
- Reuters
Malaysia's economy projected to grow 4% to 4.8% this year, central bank says
KUALA LUMPUR, July 28 (Reuters) - Malaysia's economy is projected to expand by 4% to 4.8% in 2025, down from a previous forecast of 4.5% to 5.5%, its central bank said on Monday, warning that trade and tariff uncertainties could affect global growth. Headline inflation is expected to average between 1.5% and 2.3% this year, Bank Negara Malaysia said in a statement. The central bank said the global economic growth outlook was affected by shifting trade policies and uncertainties surrounding tariffs. It said Malaysia's "updated growth projections account for various tariff scenarios, ranging from a continued elevation of tariffs to more favourable trade negotiation outcomes." Although Malaysia's economy remains on a "strong footing", the central bank said its growth projection remains subject to uncertainties surrounding the global economy. Malaysia is facing a 25% tariff on its exports to the United States unless it can reach a deal with Washington by August 1. Malaysia's trade minister said several sticking points remained in the talks with the United States, particularly on non-trade barriers, but discussions were progressing well and were on track to meet the August deadline.


Daily Mail
6 hours ago
- Daily Mail
Britain facing pension poverty 'time bomb' as Rachel Reeves' tax grab helps crater retirement savings by 20 per cent in six months
Britain is facing a pension poverty 'time bomb' after Rachel Reeves ' punishing tax grab helped plunge retirement savings by 20 per cent in six months. Survey figures suggest Britons may have been reducing their pension contributions since Christmas as the economy reacted to Labour's new tax regime. The Chancellor's national insurance hike has been partly blamed for high inflation this year, raising the cost of goods and services. Critics said last night the increased cost of living is 'squeezing' households and preventing people from putting money away for their retirement. As a result, the average monthly pension contribution has slumped to £53.40 this month from £59.10 in April and £65.10 in December. This is the first time in two years contributions have dropped for six months in a row, according to data from the House Money Index compiled by price comparison website MoneySuperMarket. At the same time, average household spending on bills and other outgoings surged by 12 per cent to £1,564 per month. The data showed the average Brit is now shelling out £52.14 per day on essentials, up from £46.40 in December. Kara Gammell, personal finance expert at MoneySuperMarket, said: 'People are reducing their private and workplace pension contributions, perhaps to help offset rising costs and stretched household finances.' Last night, Helen Whately MP, shadow pensions secretary, said: 'Britain is facing a pension poverty time bomb of Labour's making. 'By squeezing the public with more taxes and higher bills, people are being forced to make terrible choices – choices we won't see the full consequence of for years. 'The Conservatives will always stand on the side of the makers – those who work hard, do the right thing, and want to get on in life. 'And so we will hold Labour to account for the economic mess they are making.' John O'Connell, chief executive at the TaxPayers' Alliance said: 'Sky-high taxes and soaring living costs mean hard-pressed households are dipping into their retirement savings just to stay afloat.' This month, the Office for National Statistics said UK inflation jumped higher than economists had expected to 3.6 per cent in June, up from 3.4 per cent in May. It marked the steepest increase since January 2024, with critics blaming Mrs Reeves' 'job tax'. Work and Pensions Secretary Liz Kendall said the Government was reviving New Labour's Pensions Commission to help people save more. She said: 'People deserve to know they will have a decent income in retirement – with all the security, dignity and freedom that brings. 'But the truth is, that is not the reality facing many people, especially if you're low paid, or self-employed.


Reuters
18 hours ago
- Reuters
Turkey's economy returns to a 'positive cycle', finance minister says
ANKARA, July 27 (Reuters) - Turkey's economy has returned to a "positive cycle" after market turbulence in March, Finance Minister Mehmet Simsek said on Sunday. All financial indicators including gross foreign exchange reserves and the main stock index BIST100 (.XU100), opens new tab have returned to mid-March levels with the steps taken to manage the economy, Simsek said in a live interview with broadcaster Kanal 7. The detention of Istanbul Mayor Ekrem Imamoglu, President Tayyip Erdogan's main political rival, on March 19 triggered market turmoil that prompted an emergency interest rate hike and drained foreign currency reserves. Turkey's central bank this week cut its benchmark interest rate by a larger-than-expected 300 basis points to 43%, resuming an easing cycle that had been disrupted in March. Credit ratings agency Moody's on Friday upgraded Turkey's rating to "Ba3" from "B1," citing improving monetary policy credibility, easing inflation and reduced economic imbalances. Turkey's government expects that inflation will end the year "within the central bank's mid-point to high forecast range. We expect a figure below 29%," Simsek said. Turkish annual consumer price inflation slowed to 35% in June, extending its fall from a peak of around 75% in May 2024. The central bank's year-end inflation mid-point estimate currently stands at 24%, in a forecast range of 19% to 29%. Turkish economic growth has remained below forecasts in recent months and there is a "high probability" of a limited deviation from the budget revenue target, Simsek said. Based on its three-year policy roadmap published last September, the government predicts 4.0% gross domestic product growth this year. According to the median forecast of 34 economists in the July 18-23 Reuters poll, growth in Turkey's GDP is expected to be 2.8% this year, slower than 3.2% in 2024.