Surprising fact. While the price of raw materials is soaring around the world, especially since the outbreak of the Russian-Ukrainian conflict, the rate of change in producer prices is slowing down in Morocco. To consider only the manufacturing industry, the producer price index is indeed decelerating. Thus, after growth of 2.5% in January, prices rose by 0.8% in February and then by 0.7% in March. It will probably be necessary to wait for the following months to know the real trend of the producer price index produced by the High Commission for Planning.
In March, and over one month, prices increased the most in woodworking and manufacture of wooden and cork articles (+8.8%), in furniture manufacture (+4.8%), in beverages (+2.6%) and textiles (+2.4%). On the other hand, they fell in metallurgy (-0.3%) and in the leather and footwear industry (-0.1%). As for the producer prices of extractive industries, they increased by 0.1%. Finally, the prices for the production and distribution of electricity and water are maintained over the period. Note that consumer prices rose faster than producer prices. In March, the CPI posted a rise of 1.8% over one month, compared to an increase of 0.6% in February and stagnation in January. Over the quarter as a whole, consumer prices increased by 4% year-on-year, mainly due to higher food prices.
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