Informations Rapides · 27 September 2024 · n° 250

In August 2024, the industrial producer prices are almost stable over a month and fell by 5.1% over a year Industrial Producer and Import Price Indices - August 2024

In August 2024, the overall producer prices in the French industry are almost stable over a month (+0.1% after +0.2% in July et -0.2% in June). Producer prices continue to rise for products for the French market (+0.2% after +0.3%), while those intended for the foreign markets were down slightly (-0.2% after -0.1% in July). Over a year, the French industrial producer prices were down for the fourteenth consecutive month (-5.1% after -4.3% in July and -4.8% in June). They were 18% above their 2021 average level.

Excluding energy, the producer prices in the French industry were stable over a month, as in July, and rose slightly over a year (+0.2% in August as in July).

In August 2024, the producer prices in the French industry for the home market continued to rise over a month (+0.2% after +0.3% in July): prices of mining and quarrying products, energy and water products accelerated (+2.1% after +0.5%), while those of manufactured products fell back (-0.4% after +0.2%). Over a year, the producer prices in the French industry for the home market fell for the ninth consecutive month (-6.3% after -5.7% in July and -6.1% in June). They were around 20% above their 2021 average level.

In August 2024, the acceleration in prices for mining and quarrying products, energy and water products (+2.1% after +0.5% in July) was mainly due to the increase of prices for trade of electricity (+4.1% after +0.4% in July). Over a year, producer prices for mining, energy and water products were down for the ninth consecutive month (-17.2% after -18.0%), but were around 25% above their 2021 average level.

Prices of food and beverages continued to increase slightly (+0.2% as in July) in line with bread, fresh pastry goods and cakes prices (+1.4% after +0.8%), particularly as a result of the rise in cocoa prices. Prices of food and beverages were around 26% above their 2021 average level.

In August 2024, prices for “other industrial products” were again almost stable over a month (+0.1% after -0.1% in July): the rise in paper and paperboard prices (+4.1% after +1.1%) was offset in particular by the fall in prices for basic iron and steel products and of ferro-alloys (-1.0% after -0.5%) in the wake of the fall in iron prices. Prices for “other industrial products” remained above almost 15% above their average 2021 level.

Prices of electrical, computer and electronic equipment and machinery were also almost stable over a month in August 2024 (-0.1% after +0.2%); they were 14% above their 2021 average level.

Prices for refined petroleum products decreased sharply in August (-9.0% after +2.0%), following the fall in oil prices over a month. They reached a level not seen since the beginning of 2022. Over a year, they were down by 19.6% but were still around 30% above their 2021 average level.

In August 2024, transport equipment prices fell slightly (-0.2% after +0.1% in July). They were around 14% above their 2021 average level.

In August 2024, the industrial producer prices for the foreign markets fell slightly over a month (-0.2% after -0.1% in July). Prices of manufactured products decreased (-0.3% after a stability in July), while those of mining and quarrying products, energy and water rebounded sharply.

Prices of refined petroleum products fell down (-6.7% after +0.5%), due to the fall in oil prices in August. Those of electrical, computer and electronic equipment and machinery also fell over a month (-0.2% as in July), as did those of transport equipment (-0.5% after a stability in July) in line with the prices for air and spacecraft and related machinery (-0.8% after -0.1%).

Prices of “other industrial products” were almost stable over a month (-0.1% after +0.2% in July), as did those of food and beverages (+0.1% after -0.4%).

Over a year, the industrial producer prices for the foreign markets fell (-1.1% in August 2024), after a slight increase in July (+0.2%), which, nevertheless, followed fifteenth consecutive month of decline. They were around 13% above their 2021 average level.

In August 2024, the import prices of industrial products fell back (-0.5% after +0.3% in July). Prices of manufactured products dropped (-0.5% after a stability in July), as did those of mining and quarrying products, energy and water.

Prices of refined petroleum products sharply fell down (-7.3% after -0.1% in July). Prices of electrical, computer and electronic equipment and machinery were also down, but more slightly, by 0.3% in August (after a stability in July), as did those for transport equipment (-0.2% after +0.4%).

Conversely, food and beverages prices rose (+0.3% after a stability in July), led by dairy and cheese products (+2.2% after +2.4%).

Lastly, “other industrial products” prices were almost stable (-0.1% as in July).

Over a year, the import prices of industrial products fell in August 2024 (-1.1% after +0.6% in July). They were around 12% above their 2021 average level.

The evolution of the producer price index in the French industry for the home market between June 2024 and July 2024 has been revised upwards by 0.1 points: published in late August 2024 at +0.2%, it has been reviewed at +0.3%.