Morocco’s overall consumer price index rose 1.2% in May 2026 compared to a year earlier, a figure shaped heavily by a fall in food prices that offsets a sharp increase in transport costs, the High Commission for Planning reported Monday
Transport was the fastest-rising category in the national basket, up 8.1% year-on-year in May, more than six times the overall inflation rate. Food prices fell 0.7% over the same period, pulling the aggregate figure down.
Non-food prices rose 2.6% year-on-year in May. Within that: restaurants and hotels up 2.2%, education up 2.1%, housing, water and utilities up 1.5%, miscellaneous goods and services up 3.5%. Communication was the only category to record a decline, at -0.3%.
Core inflation, the HCP’s measure that excludes volatile food prices and regulated tariffs , came in at -0.1% year-on-year.
The monthly figure, -0.9% for May overall, was driven by a seasonal collapse in vegetable prices, which fell 8.6% between April and May. Fish and seafood dropped 3.7%, meat 1.9%, and fuel 3.6%. Fruit prices rose 0.2%.
At the city level, price movements varied significantly. Tétouan recorded the highest year-on-year increase at 1.7%, followed by Tanger and Guelmim both at 1.1%. Fès was flat on the year. Safi, Settat and Dakhla posted annual declines, with Safi down 0.9%. Guelmim held the highest absolute index level of any city in the HCP basket, at 126.2.
Morocco’s average consumer price index stood at 120.4 in May 2026. Over the first five months of the year, the index is up 0.5% relative to the same period in 2025.
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