In 2024, Bank Al-Maghrib reported a decline in Morocco’s inflation to 0.9%, projected to moderate at 2% in the coming years, despite uncertainties from geopolitical tensions and agricultural supply. Core inflation stood at 2.2% in 2024, with stable inflation expectations in the financial sector.
Bank Al-Maghrib (BAM) has declared that Morocco’s inflation experienced a marked reduction during 2024, averaging 0.9%. The bank anticipates that inflation will rise slightly in the coming two years, stabilizing at moderate levels around 2%. This information was shared in a press release following the initial quarterly meeting of its 2025 Council.
In 2024, following two years of elevated inflation, the rate dropped to an average of 0.9%. Core inflation was reported at 2.2% for the same year, with expectations to stabilize around 2% in the medium term. The central bank attributes the inflation changes to fluctuating market conditions.
However, BAM has acknowledged substantial uncertainties affecting these projections. These uncertainties largely stem from ongoing geopolitical tensions that could impact global inflation and the supply dynamics of domestic agricultural products.
Moreover, the Bank Al-Maghrib Council indicated that inflation expectations remain stable. Financial sector analysts forecast an average inflation rate of 2.2% over the next eight quarters and 2.4% over the twelve quarters leading up to the first quarter of 2025.
In summary, Bank Al-Maghrib reports a significant decrease in Morocco’s inflation rate to 0.9% in 2024, with expectations of a gradual rise to around 2% over the next two years. However, forecasts are complicated by uncertainties, specifically geopolitical tensions and agricultural supply issues. Additionally, financial sector experts project that inflation expectations remain stable, with a moderate forecast for the near future.
Original Source: fesnews.media
