The specter of stagflation looms

The question deserves to be asked and it has just been as­ked by the economists of the Centre Marocain de Conjoncture: is the cycle of stagflation back? All the ingredients leading to such a situation are present: sluggish growth and rising inflation. Two elements that have a ne­gative impact on household consump­tion. In any case, the first quarter was marked by a sharp deterioration in household morale...