Fluctuating Producer Price Index in Moroccan Manufacturing Industries

2023-11-02 21:32:05

The producer price index for the “Manufacturing industries excluding oil refining” sector continues to play yo-yo, alternating with the months, increases and decreases, according to figures published by the High Commission for Planning (HCP).

After the slight decline of 0.1% observed for the month of August 2023, the public body responsible for the production, analysis and publication of official statistics in Morocco announces that it has regained momentum during the month of September.

The data collected by the High Commission shows that it “recorded an increase of 0.1% during the month of September 2023 compared to the month of August 2023”.
As a reminder, the producer price index for manufacturing industries fell in August following two months of increases in a row, in July (0.8%) and June (0.2%), preceded by a decline in May (0.2%) and an increase in April (0.3%) of the same year.

In its information note relating to the industrial, energy and mining producer price index (IPPIEM) for the month of September 2023, the HCP explains that this increase is the result of the 0.2% price increase of “Food industries”, “Clothing industry” (0.9%), “Metallurgy” and “Textile industry” (0.3%), “Woodworking and manufacturing wood and cork articles” (0.4%) and the “leather and footwear industry” (0.1%).

Still according to the explanations of the High Commission, the evolution of this index also results from the drop in prices of 0.3% in the “Automotive industry” and 0.1% in the “Manufacture of rubber and rubber products”. plastic”.

For comparison, the previous increase in the same index (July) was justified by that of the prices of the “Chemical industry” (2.9%), “Food industries” (0.9%), “ Manufacture of beverages” (1.1%), “Metallurgy” (0.2%), “Manufacture of rubber and plastic products” (0.3%) and “Manufacture of machines and equipment » (by 0.1%).

This increase was also justified by the decline of 0.7% in the “Textile industry”, 0.1% in the “Manufacture of electrical equipment” and 0.3% in “Woodworking”.

Let us also recall that the increase recorded a month earlier (June) had been attributed, for its part, to the price increase of 1.2% in “Metallurgy”, 0.4% in “Manufacturing of electrical equipment », 0.3% of the “Clothing industry” and 0.1% of the “Manufacture of rubber and plastic products” and the “Manufacture of machines and equipment”. As well as the 0.2% drop in “Food industries”.

To fully understand the evolution of producer prices in the “Manufacturing industries excluding oil refining” sector during the previous months of this year, it is important to remember that the decline in this index recorded last August was the result of the drop in prices of 4% in “Metallurgy” and the increase in prices of 1.4% in the “Clothing industry” and 0.2% in “Food industries”, according to the explanations of then HCP.

Let us also recall that the previous drop (May) was attributed to that of 3.1% in prices for “Metallurgy”, 0.5% for “Manufacture of electrical equipment” and 0.3% for “Automotive industry” as well as the 0.1% increase in prices for “Food industries”, 0.5% for the “Clothing industry” and 0.2% for the “Wood industry”. textile”.

Still according to recent figures from the High Commission, during the month of September, the producer price indices for “Extractive industries”, “Production and distribution of electricity” and “Production and distribution of water” experienced stagnation.

Alain Bouithy

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