Morocco’s annual inflation rate is estimated to have reached 1.1% in the second quarter of 2026, rebounding from a 0.1% decline in the previous quarter as higher energy prices offset continued falls in food costs, the High Commission for Planning (HCP) said.
In its latest economic outlook, the HCP said the increase was mainly driven by a recovery in fuel prices, with the energy component contributing 0.8 percentage points to overall inflation. Prices of non-food products are estimated to have risen 2.5% year-on-year, compared with 0.7% in the first quarter.
Food prices continued to decline but at a slower pace, falling 0.7% after a 1.1% drop in the previous quarter, reflecting higher red meat prices.
The HCP also estimated that core inflation, which excludes more volatile items, improved slightly to -0.2% from -1.0% in the first quarter, indicating underlying price pressures remained subdued despite the rebound in headline inflation.
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