Bank Al-Maghrib reported a drop in inflation to 0.9% in Morocco for 2024, with projected moderate rises to around 2% in the following years. Core inflation stood at 2.2%, with expectations remaining stable despite uncertainties from geopolitical tensions.
In its recent report, Bank Al-Maghrib (BAM) announced a significant decrease in inflation rates in Morocco for 2024, which averaged 0.9%. The bank anticipates that inflation will rise moderately over the next two years, stabilizing around 2%. This information was released in a statement following the initial quarterly meeting of the 2025 Council.
BAM elaborated that inflation, which had experienced elevated levels in previous years, dropped markedly in 2024, with core inflation recorded at 2.2%. Projections indicate that core inflation will maintain a level close to 2% in the medium term. However, the report highlighted ongoing uncertainties related to geopolitical tensions and their potential impact on global inflation and the domestic supply of agricultural products.
Moreover, the Bank Al-Maghrib Council remarked that inflation expectations are currently stable. Financial analysts predict an average inflation rate of 2.2% over the next eight quarters and an increase to 2.4% over the twelve quarters leading into the first quarter of 2025.
In summary, Bank Al-Maghrib reported a decline in inflation to 0.9% in 2024, with expectations for a moderate rise to approximately 2% in subsequent years. Core inflation is projected to stabilize around this rate. However, uncertainties exist, primarily due to external geopolitical tensions and their influence on agricultural product supply and global inflation. Financial experts foresee anchored inflation expectations with slight increases anticipated over the next couple of years.
Original Source: fesnews.media
