Morocco’s headline inflation rose to 0.5% y/y in Sep 2026.

Lower is better. Lower is better because slow price rises protect what wages and savings can buy, and a reading below zero means the basket costs less than it did a year earlier. The latest figure is −0.33% y/y in August 2026, down from 0.25% y/y in August 2025, a fall of 0.58 percentage points. Since Sep 2024 the range runs from a high of 2.6% y/y in February 2025 to a low of −0.75% y/y in January 2026. The latest reading sits much nearer the bottom of that range than the top.

Why it matters. A household buying the same basket as a year ago pays slightly less for it now, which helps budgets stretch further in Morocco. Firms setting prices find little room to pass on higher costs, so margins depend on volumes and efficiency. For the state, price growth this slow eases the pressure to raise wages and pensions just to keep pace with the cost of living.