Morocco's Consumer Price Index (CPI) rose by 0.4% in September 2025 compared to the same month last year, according to the High Commission for Planning (HCP). This increase was driven by a 0.5% rise in the food products index and a 0.4% rise in the non-food products index, the HCP said in its monthly bulletin on consumer prices. For non-food products, year-on-year changes ranged from a 2.4% drop in «Transport» to a 2.9% rise in «Restaurants and Hotels». Compared to August 2025, the CPI increased by 0.2%, reflecting a 0.2% rise in both food and non-food product indices. The main food price increases between August and September 2025 were recorded in «Vegetables» (+2.6%), «Fruits» (+0.5%), «Meat» (+0.4%), and «Bread and cereals», «Milk, cheese and eggs», and «Coffee, tea and cocoa» (+0.1%). Conversely, prices fell by 2.1% for «Oils and fats», 0.6% for «Fish and seafood», and 0.3% for «Mineral waters, soft drinks, and fruit and vegetable juices». Among non-food items, the most notable decline was in «Fuels», down 2.2%. The largest CPI increases were observed in Errachidia (+0.9%), followed by Laâyoune (+0.6%), Rabat (+0.5%), and Casablanca, Dakhla, Guelmim, and Beni Mellal (+0.4%), while smaller increases were seen in Marrakech and Settat (+0.2%). In contrast, decreases were recorded in Al Hoceima (-2.4%), Meknes (-0.4%), Fez (-0.3%), Kenitra and Tangier (-0.2%), and Tetouan (-0.1%). Meanwhile, the underlying inflation indicator, which excludes products with volatile prices and items with regulated tariffs, remained stable compared to August 2025, while increasing 0.3% year-on-year compared to September 2024.
