Morocco’s annual inflation rate declined to 4.9% in July from 5.5% in June, the lowest figure since February 2022, primarily driven by a notable reduction in food inflation, which dipped to 12.1% compared to 13.1% in June, and a decrease in transportation costs. Core inflation in July was 5.4%, down from 5.6%. Monthly data revealed a 0.3% rise in consumer prices for July, a pivot from the 0.9% decline in June.