Inflation Stands at 0.4% in September 2025

In September 2025, the consumer price index (CPI) experienced a 0.2% increase compared to the previous month. This change was attributed to a 0.2% rise in both food and non-food product indices. The increase in food prices from August to September 2025 was primarily driven by vegetables, which rose by 2.6%, followed by fruits at 0.5%, meats at 0.4%, and bread and cereals, milk, cheese, and eggs, as well as coffee, tea, and cocoa, each increasing by 0.1%. Conversely, prices for oils and fats decreased by 2.1%, fish and seafood by 0.6%, and mineral waters, soft drinks, and fruit and vegetable juices by 0.3%. For non-food products, the most significant decline was observed in fuel prices, which fell by 2.2%. The highest increases in the CPI were recorded in Errachidia at 0.9%, Laâyoune at 0.6%, Rabat at 0.5%, and Casablanca, Dakhla, Guelmim, and Beni-Mellal at 0.4%. In Marrakech and Settat, the increase was 0.2%. In contrast, decreases were noted in Al-hoceima at 2.4%, Meknès at 0.4%, Fès at 0.3%, Kénitra and Tangier at 0.2%, and Tétouan at 0.1%. Compared to the same month last year, the consumer price index recorded a 0.4% increase in September 2025, driven by a 0.5% rise in the food product index and a 0.4% increase in the non-food product index. For non-food products, variations ranged from a 2.4% decrease in transport to a 2.9% increase in restaurants and hotels. Under these circumstances, the underlying inflation indicator, which excludes volatile prices and public tariffs, showed stagnation in September 2025 compared to August 2025, but a 0.3% increase compared to September 2024.