Press Review: The Evolution of Inflation in Morocco 2026

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Economic Outlook for Morocco in 2026: A Continued Easing of Inflation

The year 2026 is characterized by a continued slowdown in inflation in Morocco, following the significant inflationary pressures observed between 2022 and 2024. Recent publications highlight a gradual stabilization of prices, while also underscoring the persistence of certain structural weaknesses within the Moroccan economy.

According to economic forecasts published by Le Matin, the High Commission for Planning (HCP) anticipates an average inflation rate of 1.1% in 2026, a stark contrast to the significantly higher levels recorded in previous years. This trend is primarily attributed to the easing of pressures on food prices and a relative stability in international markets. The HCP also notes that economic growth is expected to be bolstered by a rebound in agricultural activity and increased domestic demand.

However, the latest data from Médias24 indicates a slight uptick in inflation in April 2026. The Consumer Price Index (CPI) recorded a year-on-year increase of 0.7%, reflecting a moderate rise in the prices of certain food items and services. This trend confirms that, despite an overall deceleration, prices remain sensitive to various cyclical factors.

In a more critical analysis, La Quotidienne believes that the apparent return to moderate inflation levels should not obscure ongoing vulnerabilities. The article emphasizes that many households still feel pressure on their purchasing power, particularly due to the persistently high prices of essential consumer goods. From this perspective, the decline in inflation reflects more a slowdown in the pace of price increases than a true return to pre-crisis conditions.

Meanwhile, Maroc24, relying on forecasts from Bank Al-Maghrib (BAM), indicates that inflation is expected to average around 0.8% in 2026. The central bank attributes this development to the gradual dissipation of external shocks, improvements in supply conditions, and the effectiveness of its monetary policy. BAM considers that inflationary pressures are now largely under control while remaining vigilant to risks associated with the international environment.

Overall, various sources converge on the observation of a return to low inflation in 2026, with forecasts ranging between 0.8% and 1.1%. However, while macroeconomic indicators point to a notable improvement in price stability, multiple analyses remind us that challenges related to purchasing power and the resilience of the Moroccan economy remain pertinent.

Noha Fouadi

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