Bank Al-Maghrib reported a decrease in Morocco’s inflation to 0.9% in 2024, with expectations of a gradual rise to moderate levels around 2% in the following years. Core inflation stands at 2.2%. However, significant uncertainties exist due to geopolitical tensions and domestic agricultural supply developments.
Bank Al-Maghrib (BAM) has reported a significant slowdown in inflation in Morocco during the year 2024, which has decreased to an average of 0.9%. Despite this decline, the bank anticipates that inflation will rise over the next two years, yet it is expected to remain moderate at approximately 2%. This information emerged from a press release following the first quarterly meeting of BAM’s 2025 Council.
The report indicates that after two consecutive years of elevated inflation rates, a notable decline occurred in 2024, reaching an average of 0.9%. While inflation is projected to increase in the upcoming years, it is expected to stabilize around 2%. Additionally, core inflation for 2024 was recorded at 2.2%, with projections indicating stabilization at approximately 2% in the medium term.
Nevertheless, BAM has emphasized that these forecasts carry considerable uncertainties, particularly in light of ongoing geopolitical tensions that could affect global inflation. Furthermore, the domestic agricultural product supply may influence these predictions.
Moreover, the BAM Council observed that inflation expectations are firmly established, with financial experts forecasting an average inflation rate of 2.2% for the next eight quarters, escalating to 2.4% over the following twelve quarters, as of the first quarter of 2025.
In conclusion, Bank Al-Maghrib has highlighted a significant decline in Morocco’s inflation rate in 2024, noting an average of 0.9%. While future inflation is anticipated to rise, it is expected to remain moderate at around 2%. The bank has also pointed out the uncertainties that may affect these forecasts, particularly geopolitical tensions and agricultural supply issues.
Original Source: fesnews.media
