FX.co ★ Morocco Inflation Slows Further in June

Morocco’s annual inflation rate slowed sharply to 0.3% in June 2026, marking a second consecutive month of deceleration after 1.2% in May. Food prices fell by 2.5% year-on-year, deepening from a 0.9% drop in the previous month, while non-food inflation eased to 2.3% from 2.6%.

Among the main components, price growth cooled for transport (6.7% vs. 8.1%), housing and utilities (1.4% vs. 1.5%), restaurants and hotels (2.1% vs. 2.2%), and clothing and footwear (0.8% vs. 0.9%). Deflation in recreation and culture intensified slightly (-0.2% vs. -0.1%), and communication prices continued to decline (-0.3%).

Inflation was unchanged for education (2.1%) and furnishings (1.2%), while health costs rose at a marginally faster pace (0.3% vs. 0.2%). On a monthly basis, consumer prices fell by 0.4%, after a 0.8% decrease in May.