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Morocco’s inflation rebound: why energy shocks are reshaping a fragile price recovery

Bustling street scene in Fes Medina, Morocco. Photo by Abderrahmane Habibi @ Pexels
Bustling street scene in Fes Medina, Morocco. Photo by Abderrahmane Habibi @ Pexels
  • Inflation turns positive after months of deflation
  • Fuel surge drives sharp monthly price spike

 

RABAT, MOROCCO – Morocco’s inflation rate climbed to 0.9% year-on-year in March, up from -0.6% in February, according to the High Commission for Planning (HCP), marking the first positive reading since October 2025 and the highest since March last year.

The shift signals a decisive break from one of the country’s longest recent deflationary periods, reversing a trend that had provided temporary relief to consumers but also reflected weak price momentum in the broader economy.

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