Morocco’s producer price index (PPI) for manufacturing industries excluding oil refining fell slightly in December 2025, down 0.1% from November, according to new data from Morocco’s statistics office (HCP). The monthly decline was mainly driven by lower factory-gate prices in the food industry, which dropped 0.7%, and the automotive industry, down 0.4%. Producer prices rose in beverages (+1.1%), furniture (+0.9%), rubber and plastic products (+0.8%), clothing (+0.5%), and textiles (+0.3%). The PPIs for extractive industries, as well as electricity and water production and distribution, remained unchanged over the month, the HCP report indicated. Producer price trends are closely watched as an early indicator of inflation pressures, since shifts at the production level can later feed into consumer prices.