INFLATION 2023

In December 2023, the CPI in Morocco fell by 0.1% on the previous month. The average annual CPI for 2023 increased by 6.1%, while underlying inflation rose by 5.9%. The fall in CPI was mainly due to lower prices for food products, notably fish, fruit and vegetables. On the other hand, meat and dairy prices rose. The biggest increases in annual CPI were recorded in Al-Hoceima, Beni-Mellal and Errachidia, with rates of 10.1%, 8.8% and 8.0% respectively.