30 June 2020
N° 2020-162

The producer prices in French industry decreased slightly in May 2020 (–0.2%)Industrial Producer and Import Price Indices - May 2020

The producer prices in French industry decreased by 0.2% in May 2020, after the stronger declines observed in April (–2.3%) and March (–1.5%). The producer prices for the French market were virtually stable (–0.1%) whereas those for the foreign markets fell by 0.3%. Year on year, the producer prices in French industry kept declining sharply (–3.5% after –3.8%).

Informations rapides
No 162
Paru le : Paru le 30/06/2020
Prochaine parution le : 28/08/2020 at 08:45 - July 2020
Informations rapides  No 162 - June 2020

Total Industry price indices

Total Industry price indices
PPI for domestic market PPI for foreign markets PPI for all markets Import prices
2015-01 100.0 98.9 99.8 99.4
2015-02 101.0 100.1 100.8 101.0
2015-03 101.1 100.6 101.0 101.6
2015-04 100.8 101.1 100.9 102.2
2015-05 100.4 100.6 100.4 102.5
2015-06 100.5 100.7 100.6 102.0
2015-07 100.3 100.9 100.5 100.8
2015-08 99.2 99.8 99.4 99.3
2015-09 99.2 99.4 99.3 98.6
2015-10 99.4 99.5 99.4 98.1
2015-11 99.5 99.6 99.5 98.2
2015-12 98.4 98.9 98.5 96.5
2016-01 97.3 98.2 97.5 94.7
2016-02 96.9 97.2 96.9 94.1
2016-03 97.1 97.4 97.2 95.0
2016-04 96.5 97.4 96.7 95.0
2016-05 97.0 97.7 97.1 95.9
2016-06 97.4 98.0 97.5 96.4
2016-07 97.5 97.9 97.6 96.4
2016-08 97.4 97.9 97.5 96.2
2016-09 97.7 98.2 97.8 96.5
2016-10 98.4 98.9 98.5 97.5
2016-11 99.0 99.3 99.1 97.5
2016-12 99.8 100.2 99.9 99.1
2017-01 100.7 101.7 100.9 99.7
2017-02 100.5 100.9 100.6 100.0
2017-03 100.0 100.4 100.1 99.7
2017-04 99.7 100.4 99.8 99.6
2017-05 99.1 100.1 99.3 98.8
2017-06 98.8 99.4 99.0 97.9
2017-07 98.9 99.2 98.9 97.6
2017-08 99.4 99.1 99.3 98.2
2017-09 99.8 99.6 99.7 99.0
2017-10 100.0 100.2 100.1 99.4
2017-11 101.7 101.1 101.5 100.2
2017-12 102.0 100.9 101.7 100.2
2018-01 102.0 100.3 101.5 100.4
2018-02 102.0 100.6 101.7 99.9
2018-03 102.2 100.7 101.8 100.1
2018-04 101.4 100.6 101.2 100.6
2018-05 102.1 101.3 101.8 102.0
2018-06 102.1 102.0 102.1 102.4
2018-07 102.7 102.2 102.6 102.7
2018-08 103.1 102.3 102.9 102.8
2018-09 103.6 102.5 103.3 103.6
2018-10 103.9 103.0 103.7 104.6
2018-11 104.4 102.5 103.9 102.8
2018-12 103.4 101.8 103.0 101.1
2019-01 103.7 102.4 103.4 101.2
2019-02 104.2 101.9 103.5 101.9
2019-03 104.1 101.9 103.5 102.0
2019-04 103.2 102.5 103.1 102.6
2019-05 102.7 102.2 102.6 102.6
2019-06 102.1 101.7 102.0 101.3
2019-07 102.5 102.0 102.4 101.4
2019-08 102.6 101.8 102.4 100.8
2019-09 102.7 102.4 102.7 101.6
2019-10 102.5 102.4 102.5 101.5
2019-11 103.9 102.7 103.6 101.6
2019-12 104.0 102.9 103.7 101.9
2020-01 103.8 102.8 103.6 101.5
2020-02 103.1 102.5 103.0 100.6
2020-03 101.5 101.2 101.5 97.3
2020-04 98.6 100.3 99.2 95.0
2020-05 98.5 100.0 99.0 95.2

Total Industry price indices

  • Source: INSEE.

Producer prices in French industry: –0.2%

The producer prices in French industry decreased by 0.2% in May 2020, after the stronger declines observed in April (–2.3%) and March (–1.5%). The producer prices for the French market were virtually stable (–0.1%) whereas those for the foreign markets fell by 0.3%. Year on year, the producer prices in French industry kept declining sharply (–3.5% after –3.8%).

FRENCH MARKET: –0.1%

The French producer prices in industry for the French market stabilized in May 2020 (–0.1% after –2.9% in April and –1.6% in March), the fall in prices of mining and quarrying products, energy and water was almost offset by the slight rebound in manufactured product prices (+0.3% after –1.4%). Year on year, the French producer prices in industry for the French market kept however declining in May 2020 (–4.1% after –4.5%).

Fall in prices of mining and quarrying products, energy and water

In May 2020, the prices of mining and quarrying products, energy and water declined by 1.3% (after –7.5%). In particular, the prices of electricity production and trade products declined by 2.0% (after –4.0%), owing to the seasonality and a reduced demand due the measures to contain the Covid-19 outbreak. Year on year, the prices of mining and quarrying products, energy and water decreased by 2.7% in May 2020 (after –3.9%).

Rebound in refined petroleum product prices

In the wake of oil prices, the prices of refined petroleum products recovered by 23.7% in May 2020, after the historic declines observed in April (–34.7%) and March (–35.3%). Year on year, they kept falling very sharply in May 2020 (–57.1% after –65.2%).

Producer price indices of coke and refined petroleum products sold on the French market

Producer price indices of coke and refined petroleum products sold on the French market
Producer price indices of coke and refined petroleum products sold on the French market
2015-01 91.2
2015-02 106.6
2015-03 110.2
2015-04 113.8
2015-05 117.9
2015-06 115.6
2015-07 107.6
2015-08 92.8
2015-09 91.3
2015-10 89.1
2015-11 89.4
2015-12 74.5
2016-01 65.9
2016-02 65.6
2016-03 75.5
2016-04 78.5
2016-05 88.1
2016-06 91.9
2016-07 85.3
2016-08 85.2
2016-09 87.6
2016-10 97.0
2016-11 91.7
2016-12 105.7
2017-01 107.1
2017-02 108.1
2017-03 101.4
2017-04 104.7
2017-05 97.1
2017-06 89.7
2017-07 92.1
2017-08 95.1
2017-09 101.8
2017-10 103.2
2017-11 111.1
2017-12 110.9
2018-01 116.1
2018-02 109.2
2018-03 111.3
2018-04 121.8
2018-05 132.1
2018-06 130.2
2018-07 131.4
2018-08 133.2
2018-09 136.5
2018-10 142.7
2018-11 125.8
2018-12 109.3
2019-01 109.4
2019-02 118.8
2019-03 123.3
2019-04 130.7
2019-05 131.3
2019-06 117.5
2019-07 122.3
2019-08 115.7
2019-09 121.5
2019-10 117.6
2019-11 117.0
2019-12 119.6
2020-01 117.8
2020-02 107.7
2020-03 69.7
2020-04 45.5
2020-05 56.3

Producer price indices of coke and refined petroleum products sold on the French market

  • Source: INSEE.

New fall in prices of the “other industrial products”

The prices of the “other industrial products” fell by 0.3% in May 2020 (after –0.5%). They were mainly driven down by those of chemical products which decreased by 1.8% over a month (after –3.8%) and by 14.0% over a year (after –12.1%), following the downward trend in raw material prices (oil and gas in particular). Year on year, the decline in the “other industrial product” prices strengthened in May 2020 (–2.7% after –2.4%).

Fall in food and beverage prices

In May 2020, the food and beverage prices fell by 0.4% (after –0.2%), mainly due to supply exceeding demand, with some outlets (restaurants, etc.) recovering very gradually. In particular, the prices of meat and meat products decreased by 0.7% (after –0.6%). Year on year, the food and beverage prices slowed down in May 2020 (+0.6% after +1.1%).

Producer price indices of manufactured products sold on the French market

Producer price indices of manufactured products sold on the French market
C3 C5 C1 C4
2015-01 100.2 100.0 99.8 99.9
2015-02 100.2 99.9 99.9 99.9
2015-03 100.2 100.2 99.8 99.9
2015-04 100.2 100.6 99.9 99.9
2015-05 100.0 100.8 99.9 99.9
2015-06 100.0 100.8 99.9 99.8
2015-07 100.0 100.8 100.2 99.8
2015-08 99.6 100.2 100.5 100.0
2015-09 99.7 99.6 100.3 100.1
2015-10 100.0 99.2 100.2 100.3
2015-11 100.0 99.0 99.9 100.4
2015-12 99.9 98.8 99.7 100.1
2016-01 99.7 98.4 99.3 100.2
2016-02 99.5 98.1 99.1 100.1
2016-03 99.7 97.9 98.6 100.1
2016-04 99.6 98.0 98.5 100.1
2016-05 99.6 98.3 98.4 100.1
2016-06 99.9 98.6 98.5 100.0
2016-07 99.6 98.6 98.9 100.0
2016-08 99.7 98.5 98.8 99.9
2016-09 99.7 98.5 98.8 99.9
2016-10 99.6 98.7 99.1 100.0
2016-11 99.5 98.8 99.2 100.0
2016-12 99.4 99.0 99.2 100.1
2017-01 100.1 99.6 99.2 100.1
2017-02 99.9 100.1 99.6 100.1
2017-03 100.0 100.4 99.8 100.1
2017-04 99.9 100.7 100.1 100.2
2017-05 99.8 100.8 100.1 100.3
2017-06 99.9 100.7 100.4 100.3
2017-07 99.8 100.4 100.4 100.3
2017-08 99.7 100.5 100.6 100.4
2017-09 99.7 100.7 100.5 100.4
2017-10 99.8 101.0 100.4 100.4
2017-11 100.0 100.9 100.3 100.6
2017-12 100.1 101.1 100.4 100.6
2018-01 100.7 101.6 100.0 100.5
2018-02 100.3 101.9 100.1 100.5
2018-03 100.5 102.1 100.4 100.6
2018-04 100.6 102.2 100.1 100.6
2018-05 100.8 102.7 100.2 100.5
2018-06 100.9 102.8 100.1 100.6
2018-07 100.7 102.9 100.4 100.6
2018-08 100.9 103.0 100.6 100.6
2018-09 100.9 103.1 100.7 100.5
2018-10 100.8 103.0 100.7 100.7
2018-11 101.0 102.9 101.1 100.9
2018-12 101.0 102.6 101.4 101.0
2019-01 101.4 102.7 101.2 100.9
2019-02 101.3 102.8 101.2 101.0
2019-03 101.3 103.0 100.9 101.1
2019-04 101.5 103.1 101.0 101.2
2019-05 101.3 103.1 101.1 101.3
2019-06 101.3 102.8 101.3 101.4
2019-07 101.3 102.6 101.5 101.6
2019-08 101.4 102.6 101.6 101.6
2019-09 101.7 102.5 101.5 101.7
2019-10 101.8 102.3 101.8 102.1
2019-11 101.8 102.0 102.1 102.3
2019-12 101.8 101.9 102.5 102.7
2020-01 102.0 101.8 102.2 102.8
2020-02 102.3 101.6 102.2 102.9
2020-03 102.0 101.1 102.3 102.8
2020-04 102.0 100.6 102.1 103.0
2020-05 102.2 100.3 101.7 103.0

Producer price indices of manufactured products sold on the French market

  • Source: INSEE.

FOREIGN MARKETS: –0.3%

In May 2020, the producer prices of French industrial products for foreign markets declined by 0.3% (after –0.9%), driven down by the export manufactured product prices (–0.3% after –0.6%).

The export prices of the “other industrial products” kept decreasing (–0.8% after –0.6%), mainly due to the fall in chemical product prices (–3.0% after –2.1%) whereas those of basic metals recovered slightly (+0.5% after –1.4%).

In the wake of oil prices, the export prices of refined petroleum products recovered over a month (+15.6% after –39.5%) but kept declining sharply over a year (–59.2% after –64.7%).

The export prices of food products and beverages fell back for the first time since July 2019 (–0.6% after +0.2%), driven up by those of meat and meat products (–1.6% after +0.1%).

Year on year, the producer prices of French industrial products for foreign markets kept declining sharply in May 2020 (–2.2% after –2.1%).

French Producer Price Indices in industry according to the market where the products are sold

reference year: 2015
French Producer Price Indices in industry according to the market where the products are sold (reference year: 2015)
Change in %
Levels A 10 and A 17 in CPF rev. 2 Weight May 20 In 1 month In 1 year
French market
BE:TOTAL INDUSTRY 1000 98.5 -0.1 -4.1
(DE) Mining and quarrying, energy, water 232 97.1 -1.3 -2.7
CZ: Manufactured products 768 99.1 0.3 -4.3
   (C1) Food products, beverages, tobacco 205 101.7 -0.4 0.6
   (C2) Coke and refined petroleum products 37 56.3 23.7 -57.1
   (C3) Electrical & electronic equip., computers, mach. 74 102.2 0.2 0.9
   (C4) Transport equipment 99 103.0 0.0 1.7
   (C5) Other manufactured products 353 100.3 -0.3 -2.7
Foreign markets
BE:TOTAL INDUSTRY 1000 100.0 -0.3 -2.2
CZ: Manufactured products 980 100.5 -0.3 -1.7
   (C1) Food products, beverages, tobacco 86 103.5 -0.6 1.7
   (C2) Coke and refined petroleum products 25 50.3 15.6 -59.2
   (C3) Electrical & electronic equip., computers, mach. 132 100.6 -0.2 -0.1
   (C4) Transport equipment 297 108.1 -0.2 4.8
   (C5) Other manufactured products 440 97.5 -0.8 -3.5
All markets
BE:TOTAL INDUSTRY 1000 99.0 -0.2 -3.5
CZ: Manufactured products 833 99.7 0.1 -3.4
   (C1) Food products, beverages, tobacco 168 102.0 -0.5 0.8
   (C2) Coke and refined petroleum products 33 54.7 21.8 -57.6
   (C3) Electrical & electronic equip., computers, mach. 92 101.5 0.1 0.5
   (C4) Transport equipment 160 105.8 -0.1 3.6
   (C5) Other manufactured products 380 99.4 -0.5 -3.0
  • Source: INSEE.

Import price indices of industrial products: +0.2%

In May 2020, the import prices of industrial products recovered very slightly (+0.2%), after the strong falls in April (–2.4%) and March (–3.3%). The rise in import prices of unrefined hydrocarbons was partly offset by the decrease in manufactured product prices (–0.2% after –1.1%).

The import prices of “other industrial products” remained below (–0.6% after –0.5%), driven down by those of chemical products (–2.6%, like in April) and wearing apparel (–1.1% after –0.2%).

The import prices for coke and refined petroleum products recovered slightly over a month (+0.7% after –26.2%) and fall by 56.6% over a year (after –56.9%).

Year on year, the import prices of industrial products kept falling very strongly in May 2020 (–7.2% after –7.4%).

Import prices of industrial products

reference year: 2015
Import prices of industrial products (reference year: 2015)
Change in %
Levels A 10 and A 17 in CPF rev. 2 Weight May 20 In 1 month In 1 year
BE:TOTAL INDUSTRY 1000 95.2 0.2 -7.2
CZ: Manufactured products s 98.1 -0.2 -3.3
   (C1) Food products, beverages, tobacco 75 101.9 -0.3 -1.5
   (C2) Coke and refined petroleum products 36 54.1 0.7 -56.6
   (C3) Electrical & electronic equip., computers, mach. 226 98.7 0.0 0.0
   (C4) Transport equipment 188 101.9 0.2 1.0
   (C5) Other manufactured products s 99.1 -0.6 -1.6
  • s: confidential
  • Source: INSEE.

Revision of variations

In %
Revision of variations (In %)
Feb. 20 / Jan. 20 Mar. 20 / Feb. 20 Apr. 20 / Mar. 20
French producer prices in industry sold on:
   - the French market +0.1 +0.1 //
   - the foreign markets // -0.1 -0.1
   - all markets +0.1 // //
Import prices of industrial products +0.1 +0.5 +0.2
  • (1) How to read it: the variation of the producer price index in industry for products sold on the French Market between March and April 2020 is unchanged: -2.9% as it was published in May 2020.

For further information

Next publication: 30 July 2020 at 8.45 a.m.

Next publication: 30 July 2020 at 8.45 a.m.


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