The producer price index for the manufacturing industries excluding the oil refining sector recorded an increase of 0.8% during the month of July 2023 compared to the month of June 2023, announced the High Commission for Planning (HCP) in a note published this Wednesday.
This increase is attributed to a rise of 2.9% in the chemical industry, 0.9% in the food industry, 1.1% in beverage manufacturing, 0.2%.
Metallurgy witnessed a rise of 0.2%, while the Manufacturing of rubber and plastic products went up by 0.3%, and the manufacturing of machines and equipment went upT by 0.1%.
However, there was a drop of 0.7% in the textile industry, 0.1% in the manufacture of electrical equipment and 0.3% in woodworking.
Furthermore, the producer price indices of extractive industries, electricity production, and distribution, as well as water production and distribution sectors experienced stagnation during July this year.
In the same month, HCP released a note within its report on the economic situation in the second quarter of 2023 explaining that the rate of increase in consumer prices slowed slightly in Morocco, for the first time in six quarters of continuous rise.
As a result, inflation is estimated to have reached 7.1% year-on-year, compared with 9.1% in the previous quarter.
This change is due to the decline in non-food prices, which fell by more than half, from +3.5% in the first quarter to +1.4% in the second, as well as a deceleration in food prices, from 17.6% to 15.5%.
The negative contribution of energy prices (-0.5 points) and the slowdown in manufactured goods prices, due to the deceleration in vehicle and non-durable household goods prices, led to a reduction in non-food inflation.
