Latest news with #statisticsagency
Arab News
a day ago
- Business
- Arab News
Morocco's king calls for addressing regional inequalities
RABAT: Morocco's King Mohammed VI urged on Tuesday the government to elaborate a new generation of reforms to ensure equal development between the country's regions. 'It is not acceptable for Morocco – today or at any time in the future – to be a two-speed country,' the king, who has final say over the country's strategic policies, said in an annual speech marking 26 years of his reign. While the level of poverty has dropped in Morocco from 11.9 percent in 2014 to 6.8 percent in 2024, some inner regions show above-average poverty levels, according to the national statistics agency. Morocco has attracted industrial investments in sectors such as aerospace and car manufacturing, which now top its exports. However, most of the country's GDP, industry and critical infrastructure are concentrated in the northwestern areas, leaving the rest of Morocco dependent on farming, fisheries and tourism. 'Some regions — particularly in rural areas — are still suffering from poverty and vulnerability, due to a lack of infrastructure and basic facilities,' the king said. The new reforms should aim at improving social services, education, health care and water management as well as promoting employment, he said. Morocco created just 82,000 jobs last year, which falls short of reducing the country's high unemployment rate at 13.3 percent, according to the central bank. In his speech, the king also reaffirmed Morocco's readiness for 'a frank, responsible, fraternal and sincere dialogue on the various issues pending' with Algeria. Algeria cut ties with Morocco in 2021, halted the flow of gas, banned Moroccan flights from crossing its airspace and imposed visas on Moroccans, after the kingdom resumed ties with Israel. The two most populous countries in the Maghreb are at loggerheads over the status of Western Sahara. Morocco considers the territory its own, while Algeria hosts and backs the Polisario Front, which seeks its own state there. The king also thanked the UK and Portugal, the most recent Western nations to back Morocco's autonomy plan for the territory.
Yahoo
24-07-2025
- Business
- Yahoo
Mexico inflation falls within central bank's target range in early July
MEXICO CITY (Reuters) -Mexico's headline inflation slowed in the first half of July, falling back within the central bank's target range and fueling expectations that the bank should continue to bring down interest rates in Latin America's second-largest economy. Consumer prices rose 3.55% in the 12 months through mid-July, data from the national statistics agency showed on Thursday, slowing down from the 4.51% reported a month earlier. The figure also undershot the 3.64% expected by economists polled by Reuters. The Bank of Mexico, which targets an inflation rate of 3% plus or minus one percentage point, cut its benchmark interest rate by 50 basis points in June - its third straight cut of that magnitude - bringing it to 8.5%, the lowest since August 2022. In the first half of July alone, Mexican consumer prices rose 0.15% compared to the prior two weeks, also below expectations of a 0.27% increase. The closely watched core price index, which strips out some volatile food and energy prices, climbed 0.15% in early July, compared with 0.22% a month earlier. The 12-month core rate came in at 4.25%. Sign in to access your portfolio
Yahoo
24-07-2025
- Business
- Yahoo
Mexico inflation falls within central bank's target range in early July
MEXICO CITY (Reuters) -Mexico's headline inflation slowed in the first half of July, falling back within the central bank's target range and fueling expectations that the bank should continue to bring down interest rates in Latin America's second-largest economy. Consumer prices rose 3.55% in the 12 months through mid-July, data from the national statistics agency showed on Thursday, slowing down from the 4.51% reported a month earlier. The figure also undershot the 3.64% expected by economists polled by Reuters. The Bank of Mexico, which targets an inflation rate of 3% plus or minus one percentage point, cut its benchmark interest rate by 50 basis points in June - its third straight cut of that magnitude - bringing it to 8.5%, the lowest since August 2022. In the first half of July alone, Mexican consumer prices rose 0.15% compared to the prior two weeks, also below expectations of a 0.27% increase. The closely watched core price index, which strips out some volatile food and energy prices, climbed 0.15% in early July, compared with 0.22% a month earlier. The 12-month core rate came in at 4.25%. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
24-07-2025
- Business
- Reuters
Mexico inflation falls within central bank's target range in early July
MEXICO CITY, July 24 (Reuters) - Mexico's headline inflation slowed in the first half of July, falling back within the central bank's target range and fueling expectations that the bank should continue to bring down interest rates in Latin America's second-largest economy. Consumer prices rose 3.55% in the 12 months through mid-July, data from the national statistics agency showed on Thursday, slowing down from the 4.51% reported a month earlier. The figure also undershot the 3.64% expected by economists polled by Reuters. The Bank of Mexico, which targets an inflation rate of 3% plus or minus one percentage point, cut its benchmark interest rate by 50 basis points in June - its third straight cut of that magnitude - bringing it to 8.5%, the lowest since August 2022. In the first half of July alone, Mexican consumer prices rose 0.15% compared to the prior two weeks, also below expectations of a 0.27% increase. The closely watched core price index, which strips out some volatile food and energy prices, climbed 0.15% in early July, compared with 0.22% a month earlier. The 12-month core rate came in at 4.25%.
Reuters
21-07-2025
- Business
- Reuters
RBNZ Q2 sectoral factor inflation model at 2.8% y/y
SYDNEY, July 21 (Reuters) - The Reserve Bank of New Zealand (RBNZ) said on Monday its sectoral factor model of core inflation was 2.8% year-on-year in the second quarter, down from 2.9% in the prior quarter. The country's official statistics agency earlier in the day released figures that showed annual inflation came in at 2.7% in the second quarter, its highest in a year, leading markets to narrow the odds on a rate cut next month given weakness in the broader economy. Both measures are closely watched by the RBNZ, which has a monetary policy goal of keeping inflation within its target range of 1% to 3%.
