Morocco Inflation Rate

The annual inflation rate in Morocco slowed to 0.1% in October 2025, down from 0.4% in September. It marked the lowest inflation since March 2021, as food prices fell for the first time in 17 months (-0.5% vs 0.4% in September) while transport prices continued to decline (-1.9% vs -2.4%). Additionally, inflation moderated for furnishings (0.6% vs 0.8%), restaurants and hotels (2.4% vs 2.9%), and clothing and footwear (0.8% vs 0.9%), while it remained steady for education (2.1%) and alcoholic beverages and tobacco (3.4%). Meanwhile, inflation accelerated for housing and utilities (0.7% vs. 0.6%), healthcare (0.3% vs 0.2%), and miscellaneous goods and services (1.5% vs 1.4%). Core inflation, which excludes volatile prices and products subject to public tariffs, fell by 0.2% in October, marking the first decline since the data began in 2010. On a monthly basis, the CPI fell 0.6% in October, reversing a 0.2% increase in September and marking the steepest decline since January 2024.