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The High Commission for Planning (HCP) reported that Morocco’s annual inflation rate is projected to have climbed to 1.1% in the second quarter of 2026, marking a recovery from a 0.1% drop in the prior quarter, as rising energy costs counteracted ongoing decreases in food expenses.

In its most recent economic forecast, the HCP noted that the rise was primarily due to a rebound in fuel costs, with the energy sector adding 0.8 percentage points to total inflation. The price of non-food items is projected to have increased by 2.5% compared to the previous year, up from 0.7% in the first quarter.

Food prices kept decreasing, but at a reduced rate, with a 0.7% decline following a 1.1% fall in the prior quarter, due to increased red meat costs.

The HCP also estimated that core inflation, which excludes more volatile items, rose slightly to -0.2% from -1.0% in the first quarter, suggesting that underlying price pressures stayed low even as overall inflation increased.