Africa-Press. The inflation rate in Morocco recorded a new increase in April 2026, reaching its highest level since February 2025, amid growing pressures from rising fuel and energy prices due to the consequences of the Iran war. This has directly impacted transportation costs and the prices of goods and services in Moroccan markets.
Data from a local source showed that the inflation rate in Morocco rose to 1.7% year-on-year in April, compared to lower rates in previous months, driven by a 0.6% increase in food prices, alongside a 2.5% rise in non-food prices.
The transportation sector recorded the largest jump among the components of inflation in Morocco, with prices rising by 8.4% due to the significant increase in fuel prices. The kingdom relies almost entirely on importing refined petroleum products from abroad, making the Moroccan economy more susceptible to global fluctuations in energy prices.
Fuel Increases Economic Pressures in Morocco
These developments come after fuel prices in Morocco have seen consecutive increases since the outbreak of the Iran war, rising by about 50%, as fuel distribution companies continue to set prices based on global market movements.
This rise has increased pressures on transportation and service costs, prompting the Moroccan government to reinstate direct support programs for the transportation sector, aiming to limit the full transfer of increases to citizens.
A government official stated that supporting the transportation sector, along with electricity and cooking gas support, costs the Moroccan government about 1.6 billion dirhams monthly, equivalent to approximately 170 million dollars.
Inflation in Morocco had returned to rise in March by 0.9% after four consecutive months of decline, as the repercussions of the Iran war began to affect global energy and shipping prices.
Bank of Morocco Monitors Energy and Interest Rate Developments
In light of these developments, the central bank of Morocco continues to adopt a cautious policy regarding interest rates, having decided in March to maintain the interest rate at 2.25% for the fourth consecutive time, warning that the consequences of the Iran war will not pass without affecting the Moroccan economy, especially concerning energy prices and external accounts.
The central bank expects the inflation rate in Morocco for the current year to be around 0.8%, compared to previous forecasts of 1.3%. Meanwhile, a financial institution anticipates that inflation may accelerate to 1.5% due to the continued rise in energy prices, increased shipping costs, and strong domestic demand.
The international institution predicted that interest rates in Morocco would remain stable until the end of the current year, as monetary authorities seek to balance controlling inflation and supporting economic activity.
Investors and markets in Morocco closely monitor developments in global oil and energy prices, especially amid ongoing regional tensions, as they have a direct impact on the cost of living and prices of transportation and essential goods within the kingdom.
