Recently, multiphase drives have emerged as a notable alternative for three-phase drives in several domains, including electric marine propulsion, locomotive traction, and high-power industrial applications where fault tolerance and high reliability are required. This study uses a graphical approach to develop a new carrier-based Pulse-Width Modulation (PWM) that reduces the root-mean-square value of the output current ripple in two-level multiphase inverters with an odd number of phases. The optimization process calculates the optimal common-mode voltage for each switching period. Numerical models and experiments with five- and seven-phase inverters demonstrate the effectiveness of the developed PWM technique, which can reduce the number of commutations while obtaining the lowest output current ripple.