(MENAFN- Morocco World News) The Board meeting of Morocco’s central bank, Bank Al Maghrib, revised upwards its inflation forecast for 2016 to 1.6%, mainly as a result of a significant increase in volatile food prices.
“In light of these developments, the inflation forecast was revised up to 1.6 percent for 2016, while the projection for core inflation was maintained virtually unchanged at 0.6 percent,” the central bank said in a press release made public at the end of the second quarterly meeting of its board, held on Tuesday. In 2017, inflation would decline to 1 percent, as the dissipation of shock effects on volatile food prices would more than offset the expected rise in core inflation and the prices of fuels and lubricants, the same source added.
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