Morocco’s Inflation Rate Soars to 4.7% in 2022, Central Bank Forecasts

In its economic forecasts for the 2022-2023 period, BAM has forecast a rise in the inflation rate, taking into account the global economy and the country’s climatic conditions, according to a press release issued at the end of the first session of 2022 of its council.

The central bank has forecast a "sharp acceleration in inflation this year", driven by external pressures linked to the surge in energy and food prices and the rise in inflation among the main economic partners.

Thus, inflation should reach 4.7% in 2022 before returning to 1.9% in 2023, the Central Bank specifies, noting that its underlying component would increase from 1.7% to 4.7% and then slow down to 2.6%.