
Morocco's Inflation Soars to 7.8%, Driven by Surging Food Prices
After 6.3% in the second quarter, inflation has accelerated in Morocco, according to the High Commission for Planning (HCP) which expects 7.8% in the third quarter of 2022.

After 6.3% in the second quarter, inflation has accelerated in Morocco, according to the High Commission for Planning (HCP) which expects 7.8% in the third quarter of 2022.

For the 4th quarter of 2022, economic activity will experience growth of 1.4%, according to data published by the High Commission for Planning (HCP) in its note on the economic situation for the third quarter of 2022.

The crisis seems to be setting in. Cement sales, the main indicator of real estate activity continue to decline in Morocco. At the end of last August, these sales fell by 7.2% year-on-year, according to the Directorate of Studies and Financial Forecasts (DEPF).

The High Commission for Planning (HCP) has just published the results of a survey on the expenses incurred by households for the schooling of their children in Morocco. Entitled "How much do household expenses for the schooling of their children amount to?", it reveals the importance of this expenditure in the household budget.

The number of unemployed in Morocco fell to 11.2% in the second quarter at the national level. A pace that is slowing compared to the first quarter of the year according to the High Commission for Planning (HCP).

The consumer price index (CPI) has continued its upward trend observed in recent months. As of the end of June last year, it rose by 0.3% compared to the previous month, according to the High Commission for Planning (HCP).

At the end of June, the morale of Moroccans continued to deteriorate, reaching its lowest level ever recorded. Households are expressing their pessimism about their financial situation and the evolution of the standard of living.

In the first quarter of this year, Moroccan economic activity experienced a slowdown, resulting in growth of 0.3% compared to 2% during the same period last year.

In 2021, the Moroccan economy withstood exogenous shocks , recording a growth of 7.9%, after a deep recession of 7.2% in 2020 linked in particular to the health crisis, according to the High Commission for Planning (HCP).

Between the first quarter of 2021 and the first quarter of 2022, the Moroccan economy lost 58,000 jobs, despite the resumption of activities that were heavily affected by the Covid-19 crisis.

Morocco is hosting more and more refugees and asylum seekers , according to the latest statistics from the United Nations High Commissioner for Refugees (UNHCR) in Morocco.

The High Commission for Planning (HCP) reports that the consumer price index (CPI) recorded, during the month of March 2022, an increase of 1.8% compared to the previous month.