Morocco’s annual headline inflation rate quickened sharply to 1.7% in April from 0.9% in March, driven by a volatile recovery in transport costs and underlying core commodity prices, according to the High Commission for Planning.
The Friday statistical release confirms national consumer prices are rebounding from a brief deflationary cycle earlier this year, hitting a 14-month high as supply chain disruptions began filtering into the domestic market.
The acceleration was primarily triggered by the transport sector, which surged 8.4% year-on-year in April. This volatile shift followed a marginal 0.8% expansion recorded during the previous month.
On a month-on-month basis, the consumer price index edged up by 0.4% in April. This represents a distinct stabilization compared to the sharp 1.2% monthly jump reported in March.
Beyond fuel and logistics pressures, consumer costs trended upward across secondary segments. Miscellaneous goods and services expanded 3.7%, while alcoholic beverages and tobacco recorded a 3.8% annual price increase.
The headline index remains comfortably below historical double-digit peaks. However, persistent cost increases within non-food categories present a fresh policy challenge for Bank Al-Maghrib as it evaluates medium-term interest rate adjustments.
