Morocco’s consumer prices fell by 0.6% year-on-year in July 2026, reversing a 0.3% increase in June and marking the first annual decline since February. The downturn was driven primarily by a deeper drop in food prices, which fell 3.7% compared with a 2.5% decline in the previous month, while non-food inflation eased to 1.9% from 2.3%.
Among the main components, prices continued to decrease for communication (-0.2% vs -0.3% in June). Price growth also slowed in transport (4.1% vs 6.7%), clothing and footwear (0.7% vs 0.8%), and furnishings (0.9% vs 1.2%). Inflation was unchanged in education (2.1%) and health (0.3%).
In contrast, inflation picked up slightly in housing and utilities (1.5% vs 1.4%) and in restaurants and hotels (2.4% vs 2.1%), while prices in recreation and culture were flat after a 0.2% decline in June.
On a monthly basis, consumer prices dropped 1.0% in July, following a 0.4% decrease in June, representing the sharpest month-on-month decline since April 2011.
