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Morocco Manufacturing PPI Edges Up 0.2% in March 2026: Food, Metals Lead Gains
Morocco’s manufacturing producer price index (excluding petroleum refining) rose 0.2% month-on-month in March 2026, led by food products, mineral products, metallurgy, and apparel, while autos modestly declined. Extractives, power, and water distribution showed no change, underscoring a stable pricing backdrop for industrial inputs.
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In March 2026, Morocco’s producer prices for manufactured goods (excluding petroleum refining) increased by 0.2% compared with the previous month, according to the Haut-Commissariat au Plan (HCP). The uptick reflects a mix of modest gains and a slight offset in the automotive segment, resulting in a broadly stable industrial pricing climate.
What drove the change?
- Food products: +0.8%, the largest contributor to the monthly advance.
- Manufacture of other non-metallic mineral products: +0.3%.
- Metallurgy: +0.2%.
- Apparel industry: +0.1%.
- Automotive industry: –0.1%, partially cushioning the overall rise.
No movement in extractives, energy and water
Indices for extractive industries, electricity generation/distribution, and water supply/distribution remained flat in March 2026, indicating steady input costs in these segments.
Together, the data point to a measured pace of inflation in Morocco’s industrial pipeline, with food and certain basic materials leading price momentum while autos and utilities exert a stabilizing influence.