Consumer prices in Morocco fell by 0.3% year-on-year in August 2026, easing from a 0.6% decline in July and marking a second consecutive month of deflation. Food and non-alcoholic beverages registered a steeper price drop of 4.2% in August, compared with 4.0% in July, while communication prices decreased by 0.2% for the second month in a row. In contrast, inflation slowed slightly in housing and utilities (1.4% vs. 1.5%) and in restaurants and hotels (2.3% vs. 2.4%). Meanwhile, transportation costs saw a sharp acceleration in price growth (7.3% vs. 4.1%).
The core inflation index—which excludes products with volatile prices and those subject to administered tariffs—rose by 0.2% compared with July and by 0.1% compared with August 2025. On a monthly basis, the consumer price index (CPI) increased by 0.8%, following a 1.0% decline in the previous month.
