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Morocco's Consumer Price Index Drops 0.6% in November, Annual Inflation Slips to 0.3%
Morocco’s consumer price index (CPI) fell by 0.6% in November 2025, pulling the year‑on‑year inflation rate down to 0.3%. The slowdown was led by a sharp 1.3% decline in food prices, while non‑food items remained virtually unchanged. Regional data shows the deepest price drops in Errachidia, Settat and Al‑Hoceima. Core inflation, which strips out volatile food and regulated items, also fell, registering a 0.4% monthly decline and a 0.9% drop compared with November 2024.
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Key figures
In November 2025, Morocco’s consumer price index (CPI) fell 0.6% month‑on‑month, bringing the annual inflation rate down to 0.3%.
Food price dynamics
The decline was driven by a 1.3% drop in the food basket, while non‑food prices were essentially flat.
- Fruits: –6.4%
- Oils & fats: –5.2%
- Meat: –1.9%
- Fish & seafood: –0.4%
- Coffee, tea & cocoa: –0.2%
- Vegetables: +2.3%
- Milk, cheese & eggs: +0.3%
Among non‑food items, only fuel prices rose, up 0.2%.
Regional price movements
The strongest monthly CPI declines were recorded in:
- Errachidia –1.4%
- Settat & Al‑Hoceima –1.2% each
- Safi & Beni‑Mellal –1.1% each
- Guelmim –0.9%
- Oujda & Laâyoune –0.7% each
- Casablanca –0.6%
- Kénitra, Marrakech, Meknès, Tanger –0.4% each
- Agadir, Rabat, Tétouan –0.3% each
- Fès –0.2%
Year‑on‑year perspective
Compared with November 2024, the CPI slipped 0.3%, reflecting a 1.2% decline in food prices offset by a 0.4% rise in non‑food items. Within the non‑food basket, transport costs fell 1.5% while restaurant and hotel prices climbed 2.5%.
Core inflation
The underlying or core inflation index, which excludes volatile food and regulated items, fell 0.4% from October 2025 and 0.9% on a twelve‑month basis.