Morocco’s annual inflation rate, as measured by the Consumer Price Index (CPI), decreased to 1.3% in July from 1.8% the previous month, according to data from the High Commission for Planning.
Food prices, a significant driver of inflation, rose by 0.5% compared to the previous year, while inflation for non-food items increased by 1.8%.
Core inflation, which excludes the most volatile items, saw a monthly rise of 0.1% and an annual increase of 2.1%.
This decline in inflation marks a notable shift from recent years. Morocco faced unprecedented inflation levels in 2022, with the rate peaking at 6.6% due to soaring food and fuel prices.
This high inflation persisted into 2023 but decreased to 6.1% by the end of the year. Historically, Morocco has experienced a more stable inflation environment, with an average rate of around 1.5% over the past two decades.
The current reduction in inflation reflects a broader trend of decreasing price pressures, though challenges remain, particularly in volatile food and energy markets.
The Moroccan government continues to monitor these trends closely as part of its economic strategy to stabilize prices and support economic growth.
