Morocoo inflation rate to reach 2.1

The inflation rate is expected to reach 2.1 pc in 2013 and 2.5 pc in 2014, announced Bank Al Maghrib on Tuesday, noting that these estimates take into account the change in international prices of petroleum products and compensation overheads expected in the draft Finance Act 2014. The Council, taking into account expected changes in international prices of petroleum products and the compensation overheads expected in the draft Finance Act 2014, took note of the inflation projections show a rate of 2.1 pc in 2013, 2, 5 pc in 2014 and 2 pc at the end of the first quarter of 2015, said Governor of Bank Al Maghrib, Abdellatif Jouahri at the quarterly meeting of the Moroccan Central Bank. “These forecasts are therefore in line with the objective of price stability in the medium term,” he said. Jouahri also noted that keeping inflation at moderate levels in partner countries helps Morocco benefit from a lack of significant external inflationary pressures over the coming quarters.