Bank Al-Maghrib Report: Inflation Decline in Morocco for 2024

Bank Al-Maghrib reports a decline in Morocco’s inflation to 0.9% in 2024, with projections for moderate increases to about 2% in the next two years. Core inflation stood at 2.2%, expected to stabilize. Geopolitical tensions and agricultural supply pose uncertainties to these forecasts, though inflation expectations remain stable among financial experts.

Bank Al-Maghrib (BAM) has released a report indicating that Morocco’s inflation significantly decreased in 2024, averaging 0.9%. Despite this decline, it is anticipated that inflation will rise moderately over the next two years, stabilizing at approximately 2%. These insights were provided in a press release following the first quarterly meeting of BAM’s 2025 Council.

The report highlights a marked decline in inflation after two years of elevated levels, with core inflation recorded at 2.2% for 2024. Furthermore, BAM projects that core inflation will stabilize around the moderate level of 2% in the medium term. The council acknowledged that these forecasts are accompanied by considerable uncertainties stemming from ongoing geopolitical tensions, which could influence global inflation rates and domestic agricultural supply.

Additionally, BAM emphasized that inflation expectations appear stable among financial sector specialists. Predictions suggest an average inflation rate of 2.2% over the next eight quarters and an increase to 2.4% over the next twelve quarters during the first quarter of 2025, indicating a cautious but steady outlook for Morocco’s economic environment.

In summary, Bank Al-Maghrib’s report reveals that Morocco’s inflation dropped to 0.9% in 2024. While a moderate increase is predicted over the following two years, core inflation is expected to stabilize at around 2%. However, potential risks from geopolitical tensions and agricultural supply issues warrant careful consideration. Stability in inflation expectations amongst financial experts indicates a cautiously optimistic economic environment going forward.

Original Source: fesnews.media