Morocco’s consumer price index fell 0.8 percent in January 2026 compared to the same month a year earlier, driven primarily by a 2.1 percent decline in food prices, according to data released by the High Commission for Planning. Non-food prices, meanwhile, edged up 0.4 percent year-on-year, with transport costs falling 2.9 percent while miscellaneous goods and services rose 2.8 percent.
On a month-over-month basis, the picture was more nuanced. The CPI increased 0.3 percent from December 2025, as food prices climbed 0.8 percent while non-food items dipped 0.1 percent. The sharpest monthly food price increase came from fish and seafood, which surged 10.4 percent, followed by vegetables at 2.7 percent and fruit at 0.7 percent. In contrast, oils and fats dropped 3.1 percent and dairy products fell 0.3 percent. Fuel prices declined 5.9 percent, providing relief on the non-food side.
Regional variations were notable. Beni Mellal recorded the highest monthly CPI increase at 1.5 percent, followed by Settat and Al Hoceima at 0.7 percent. Guelmim and Safi both rose 0.6 percent, while Casablanca, Tetouan, and Meknes saw modest 0.3 percent increases. Dakhla bucked the trend with a 0.3 percent decline, followed by Tangier at minus 0.2 percent and Fez at minus 0.1 percent.
Core inflation — which strips out volatile products and publicly regulated prices — remained flat month-over-month in January while declining 1.2 percent year-on-year. The data suggests that underlying price pressures continue to ease, offering some breathing room for household purchasing power after years of elevated inflation that squeezed Moroccan consumers.
