ver a year, prices fell. The consumer price index released on September 22 by the High Commission for Planning shows a 0.3% drop in August compared with August 2025, food down 3.9% while non-food items rose 2.5%.
Month on month, however, the index climbed 0.8%. One line stands above all the others: fuel, up 9.8% in a single month.
The two figures do not contradict each other: one compares August with July, the other with August last year. The annual decline rests almost entirely on food, and core inflation rose only 0.1% over the year.
Bank Al-Maghrib noted the same day that the energy surge was still reaching domestic prices only faintly, cushioned by subsidies to road carriers and by unchanged prices for butane and electricity. Will the cushion hold? Winter will tell.
Photo: Abdeaitali, CC BY-SA 4.0.
Haut-Commissariat au Plan - L’Indice des prix à la consommation (IPC) du mois d’Août 2026
