Bank Al-Maghrib Report: Inflation Slows in Morocco During 2024

Bank Al-Maghrib (BAM) reported that inflation in Morocco experienced a noticeable slowdown during 2024, dropping to an average of 0.9%, and is expected to accelerate over the next two years while remaining at moderate levels of around 2%. This was stated in a press release issued by the bank following the first quarterly meeting of its 2025 Council.

Bank Al-Maghrib explained that inflation, after two years of high levels, saw a significant decline in 2024, reaching an average of 0.9%. Inflation is expected to rise in the next two years, while remaining at moderate levels of around 2%. The bank noted that core inflation stood at 2.2% in 2024 and is projected to stabilize around 2% in the medium term.

However, the bank pointed out that these forecasts remain subject to significant uncertainties, particularly due to persistent geopolitical tensions on the external front and their implications for global inflation, as well as developments in the supply of agricultural products domestically.

Additionally, the Bank Al-Maghrib Council noted that inflation expectations remain anchored, with financial sector experts predicting an average inflation rate of 2.2% over 8 quarters and 2.4% over 12 quarters during the first quarter of 2025.

About محمد الفاسي