Morocco: Inflation at 0.4% in April, Decline in Food Prices and Surge in Fuel Costs, According to the HCP
Consumer Price Index Shows Mixed Trends in April
The High Commission for Planning (HCP) reports that in April, the Consumer Price Index (CPI) recorded an increase of 0.4%, driven by opposing trends in food and non-food products.
Overall, food prices saw a decline, while non-food products experienced a more significant rise, particularly due to soaring fuel prices.
General Decline in Food Prices
Food products showed an overall downward trend of 0.6%. Several categories contributed to this decrease, notably fish and seafood, which fell by 11.1%, as well as milk, cheese, and eggs with a decline of 3.2%, and oils and fats experienced a decrease of 1.6%.
Vegetable prices also fell by 1.8%, and bread and cereals saw a decrease of 0.2%, indicating a relaxation in the prices of some staple goods.
Some Price Increases Persist in Food Sector
Despite the overall downward trend, certain products did see price increases. Fruits rose by 4.7%, while meats increased by 1.6%.
Mineral waters, soft drinks, and juices also experienced a slight increase of 0.3%, reflecting a mixed evolution across different categories.
Significant Rise in Fuel Prices and Pressure on Non-Food Prices
Non-food products recorded an overall increase of 1.2%, primarily driven by fuel prices, which surged by 21.8%.
This rise significantly influenced the overall inflation trend, particularly in sectors related to transportation and logistics.
Annual Inflation Up to 1.7%
Year-on-year, inflation reached 1.7% in April 2026, compared to 0.9% in March. This development is linked to a 0.6% increase in food products and a 2.5% rise in non-food products.
In detail, non-food product variations ranged from a decrease of 0.3% for communication to an increase of 8.4% for transportation.
Disparities Among Moroccan Cities
The CPI experienced varying changes across different cities. The most significant increases were observed in Laâyoune (+1.6%), Tétouan and Al Hoceima (+0.9%), Casablanca (+0.8%), and Safi (+0.7%).
Other cities, such as Rabat, Oujda, and Errachidia, also saw modest increases, while cities like Marrakech, Béni Mellal, and Settat reported declines.
Generally Stable Underlying Inflation
The HCP specifies that underlying inflation, which excludes volatile products and public tariffs, rose by 0.1% month-on-month but decreased by 0.3% year-on-year.
This relative stability confirms an overall controlled trend, despite the persistent pressure from fuel prices on the general level of prices.
