The CPI in Morocco in January 2025: a 2% Increase Compared to the Previous Year
The Consumer Price Index (CPI) recorded a 2% increase in January 2025 compared to the same month in 2024, according to data from the High Commission for Planning (HCP). This rise is primarily attributed to the increase in prices of food products (+3.3%) and non-food products (+1.1%).
Regarding non-food products, the variations are diverse, ranging from a decrease of 2.7% in “Transport” to an increase of 3.6% in “Housing, water, electricity, gas, and other fuels.”
When compared to December 2024, the CPI rose by 0.8%, driven by a 1.6% increase in food products, while the prices of non-food items remained stable.
Among the food products that saw the most significant price increases between December 2024 and January 2025 are “Fish and seafood” (+6.0%), “Vegetables” (+4.7%), “Meat” (+2%), “Fruits” (+1.6%), “Milk, cheese, and eggs” (+0.6%), and “Coffee, tea, and cocoa” (+0.5%). On the other hand, prices for “Mineral water, soft drinks, fruit, and vegetable juices” decreased by 0.5%.
For non-food products, the only notable increase was observed in the “Restaurants and cafes” category (+0.3%).
The CPI varied across regions, with the most significant increases recorded in Settat (+1.5%), Safi (+1.3%), Tétouan, Guelmim, and Al-Hoceima (+1.1%), while Laâyoune experienced a decrease of 0.5%.
Finally, the underlying inflation indicator, which excludes volatile products and those with regulated prices, increased by 0.2% compared to December 2024 and by 2.4% compared to January 2024.
