Almost 90% of Moroccan households report a deterioration in living standards within one year

In a recent survey, the High Commission for Planning (HCP) reported that a substantial 87.3% of Moroccan households had experienced a decrease in their standard of living in the past year.

Additionally, 53.4% anticipate further declines in the forthcoming year.

This finding denotes a record-low in the Moroccan household confidence index, a measure that has not seen such a decline since 2008.

The HCP’s quarterly survey reported a confidence index of 45.4 points, a decrease from 50.1 points in the corresponding quarter of the previous year.

The survey, ongoing since 2008, reveals that 85.3% of households forecast an upswing in unemployment in the next year.

Additionally, 78.8% consider it an unfavorable time to invest in durable goods, while 44% disclose financial challenges necessitating debt accrual or savings utilization.

In terms of cost of living, 98.1% of households noted an increase in food prices over the past year, and 72.5% predict a continued rise in the coming twelve months.

Notably, the year-on-year inflation in Morocco peaked at 10.1% in February, before decreasing to 7.1% in May.

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