Inflation forecast at 1.4% in 2021

Inflation is expected to remain at contained levels, rising on average from 0.7% in 2020 to 1.4% in 2021, to 2.1% in 2022, then falling to 1.4% in 2023, according to forecasts by Bank Al-Maghrib (BAM).

“Despite the sharp increase in its fundamental component, inflation should remain at contained levels, going on average from 0.7% in 2020 to 1.4% in 2021, to 2.1% in 2022, then decline to 1 , 4% in 2023 ”, indicates the Central Bank in a press release sanctioning the work of the last quarterly meeting of its Board for 2021, held on Tuesday.

The data available on consumer prices show significant increases in recent months for certain food products and for fuels and lubricants, notes BAM, adding that this development is mainly due to external pressures linked to the surge in their prices on international markets.

It resulted in a marked acceleration of the underlying component of inflation, which rose from 0.7% on average during the first half of the year to 2% in the third quarter and to 3.3% in November. namely BAM, estimating that it should stand at 1.7% for the whole of this year and stand at 2.7% in 2022 before returning to 1.8% in 2023 with the expected dissipation of external pressures.



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