Seafood, meat, and fuel drive down inflation in April

Consumer prices in Morocco dipped slightly in April 2025, registering a 0.3% decline compared to the previous month. This modest decrease was driven by falling food prices, which dropped by 0.6%, and a smaller 0.2% dip in non-food items.

The most notable price drops were seen in fish and meat. Seafood prices tumbled by 4.5%, while meat products were down 2.6%. Dairy items—including milk, eggs, and cheese—also saw a similar 2.6% decrease. Oils and fats declined by 1%, and the price of bread and cereals edged down by 0.3%. However, not all food items followed the same trend. Fruit prices spiked by 4.9%, vegetables rose by 0.6%, and hot beverages such as coffee, tea, and cocoa crept up by 0.2%.

Among non-food goods, the biggest drop came from fuel prices, which fell by 3.4%, contributing significantly to the overall downward trend in the index.

Price changes varied widely across regions. The steepest monthly declines were recorded in Laâyoune (down 1.1%), Beni Mellal (down 1.0%), and Kénitra (down 0.9%). Other cities like Agadir and Dakhla reported drops of 0.8%, while Casablanca and Rabat each saw prices fall by 0.6%. On the other hand, some cities experienced modest increases. Prices rose by 0.7% in Fès, 0.5% in Tangier, and 0.2% in Al Hoceima.

Looking at the broader picture, the consumer price index has risen 0.7% year-on-year since April 2024. This annual increase reflects balanced contributions from both food and non-food sectors. One major exception was transportation, where prices have plummeted 4% over the past year. Meanwhile, services in the hospitality and restaurant sectors posted a sharp rise of 4.4%, signaling growing demand or rising input costs in those areas.

Core inflation—which strips out the most volatile prices and government-regulated items—slipped by 0.2% over the month but remains 1.2% higher than it was a year ago, suggesting that underlying price pressures are still present despite recent short-term declines.