馃嚥馃嚘MoroccoNorth Africa
Inflation rate slows to 0.3% in June
via Le Matin2 min read
The consumer price index CPI increased by 0.3% year-on-year in June, a slowdown from 1.2% in May. This change is due to a 2.3% rise in non-food product prices, offset by a 2.3% decrease in food product prices, according to data from the High Commission for Planning HCP. Month-on-month, the CPI fell by 0.4% compared to May, driven by a 0.8% drop in food prices and a 0.2% drop in non-food prices. The decline in food prices is mainly attributed to decreases in vegetables -5.2%, milk, cheese, and eggs -1.9%, meats -0.3%, bread and cereals -0.3%, and oils and fats -0.1%. Conversely, prices for fish and seafood increased by 3.4%, fruits by 0.8%, and coffee, tea, and cocoa by 0.2%. For non-food products, the monthly decrease is primarily linked to a 2.9% fall in fuel prices. Significant CPI decreases were observed in cities like Beni Mellal -2.0%, K茅nitra -1.7%, Errachidia -1.4%, Al Hoce茂ma -1.3%, and T茅touan -1.0%. Prices rose in Safi +0.4% and Oujda +0.1%. Year-on-year, non-food prices continue to be influenced by transport, with tariffs up by 6.7%, while communication is the only sector to see a decrease -0.3%. The underlying inflation indicator, excluding volatile and publicly administered prices, rose by 0.2% month-on-month but fell by 0.1% year-on-year, indicating a continued easing of inflationary pressures.
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The General Confederation of Moroccan Enterprises CGEM has established the Morocco-Kazakhstan Business Council, a permanent dialogue platform aimed at fostering investments, trade, and industrial partnerships between the two countries. The inaugural meeting, held in Casablanca, was presided over by Mehdi Tazi, president of the CGEM, and attended by Alibek Kuantyrov, Vice Minister of Foreign Affairs of the Republic of Kazakhstan, along with Moroccan and Kazakh institutional officials and business leaders. Tazi highlighted that the council is designed to bring economic operators closer and invigorate bilateral relations, noting that trade between Morocco and Kazakhstan has grown by 68% since 2021, exceeding $460 million. He emphasized the complementary nature of their economies in sectors such as fertilizers, agriculture, logistics, infrastructure, energy, digital technology, and artificial intelligence. Tazi also underscored Morocco's strategic position as a gateway to African and European markets, while Kazakhstan serves as an entry point to Central Asia, advocating for an economic corridor connecting the two regions. Kuantyrov affirmed Kazakhstan's commitment to strengthening economic ties with Morocco, viewing the council as a concrete mechanism to encourage investments and trade. The meeting included presentations from companies and institutions in various sectors, including information technology, finance, agri-food, port infrastructure, telecommunications, and investment
A partial solar eclipse will be visible throughout Morocco on August 12, 2026. The phenomenon will begin in the early evening, reaching its maximum between 7:40 PM and 8:00 PM, before concluding after sunset, depending on the region. This event is anticipated to be the most spectacular partial eclipse observed in Morocco in over two decades. The northern parts of the country are expected to have the best viewing conditions, with more than 90% of the sun's disk obscured by the moon in several cities. This information was released by the Moroccan Association for Science and Thought Initiative.
Bank Al-Maghrib presented its annual report on banking supervision for 2025 on July 21, 2026, in Casablanca, confirming the banking sector's robust health. The report detailed the structure of the banking system, the activity and profitability of credit institutions, and associated organizations, as well as the risks the sector faces. The number of credit institutions under Bank Al-Maghrib's supervision increased from 92 in 2024 to 95 in 2025, including 24 banks 5 of which are participatory, 30 finance companies, 6 offshore banks, 10 microfinance institutions, 20 payment institutions, 3 collaborative finance companies, and 2 other institutions. Banks hold 82.1% of the sector's total assets. Moroccan private capital accounts for 73.2% of conventional banks' market share in assets, while public capital holds 22.1% and foreign capital 4.7%. The top five banks maintain 76% of total assets. The banking network saw a contraction in physical branches, with 5,541 agencies 151 fewer than in 2024, while ATMs increased to 8,298 units. The total workforce for credit institutions in Morocco and abroad reached 78,873 people. Moroccan banking groups' international presence remains stable, with 1,659 branches abroad, 92% of which are in Africa. Financial inclusion improved, with 39.8 million bank accounts, bringing the adult population's account ownership rate to 62%, up from 58% in 2024. Payment accounts significantly increased to 16.3 million, largely due to government aid programs. The to