Bank Al-Maghrib Reports Declining Inflation in Morocco for 2024

Bank Al-Maghrib reported a decline in Morocco’s inflation to 0.9% in 2024, expecting it to rise to about 2% in the next two years. Core inflation was 2.2%, projected to stabilize at 2%. However, significant uncertainties, especially relating to geopolitical tensions, may affect these predictions. Financial experts foresee an average inflation of 2.2% over eight quarters and 2.4% over twelve quarters in early 2025.

Bank Al-Maghrib (BAM) reported that Morocco’s inflation rate decreased significantly in 2024, averaging 0.9%. Despite this decline, inflation is anticipated to rise in the coming two years, yet it is expected to maintain moderate levels around 2%. This information was conveyed in a press release following BAM’s first quarterly meeting for 2025.

In its report, Bank Al-Maghrib remarked that after enduring two years of heightened inflation, the average rate fell to 0.9% in 2024. The core inflation rate was recorded at 2.2% and is projected to stabilize at approximately 2% in the medium term.

The bank cautioned, however, that these projections are subject to considerable uncertainties. These uncertainties include ongoing geopolitical tensions that may affect global inflation and domestic agricultural product supply.

Furthermore, the Bank Al-Maghrib Council indicated that inflation expectations remain stable. Experts from the financial sector forecast an average inflation rate of 2.2% over eight quarters and 2.4% over twelve quarters as of the first quarter of 2025.

In conclusion, Bank Al-Maghrib has indicated a notable slowdown in Morocco’s inflation rate, averaging 0.9% in 2024. Although moderate inflation is projected to rise in the next two years, uncertainties stemming from geopolitical factors and agricultural supply may impact these forecasts. The stability of inflation expectations suggests a cautious outlook among financial experts moving forward.

Original Source: fesnews.media