Insee
Informations Rapides · 22 April 2022 · n° 105
Informations rapidesIn March 2022, oil and imported commodity prices accelerated sharply Prices of oil and raw material imports - March 2022

In March 2022, the price of oil in euros soared (+24.7% after +11.6% in February). Prices in euros of imported raw materials (excluding energy) also ramped up strongly (+9.3% after +3.8%), due to both industrial raw material prices (+10.9% after +5.1%) and food commodity prices (+7.7% after +2.6%).

Informations rapides
No 105
Paru le :Paru le22/04/2022
Warning:

As rapeseed oil, wool and hide prices for December, January, February and March are not yet available from the data provider, they have been assumed to be constant in dollar terms for this publication. This hypothesis affects in particular the aggregate price index for oilseeds (and therefore for food commodities) and for natural textile fibres (and therefore for agro-industrial raw materials). The values will be revised in a forthcoming publication when the relevant prices are published.

In March 2022, the price of oil in euros soared (+24.7% after +11.6% in February). Prices in euros of imported raw materials (excluding energy) also ramped up strongly (+9.3% after +3.8%), due to both industrial raw material prices (+10.9% after +5.1%) and food commodity prices (+7.7% after +2.6%).

Imported raw materials (excluding energy)

index 2010=100
Imported raw materials (excluding energy) (index 2010=100)
Prices in foreign currencies Prices in euros
2022-03 150.3 178.2
2022-02 141.6 163.1
2022-01 136.1 157.1
2021-12 129.9 150.0
2021-11 124.0 141.9
2021-10 127.9 143.9
2021-09 125.8 139.5
2021-08 129.4 143.5
2021-07 132.3 146.1
2021-06 132.7 143.9
2021-05 135.2 145.5
2021-04 127.0 138.6
2021-03 119.7 131.4
2021-02 116.7 126.1
2021-01 113.1 121.3
2020-12 110.0 118.0
2020-11 102.1 112.5
2020-10 99.0 109.6
2020-09 98.8 109.1
2020-08 96.9 106.8
2020-07 91.1 103.5
2020-06 88.5 102.3
2020-05 87.6 104.7
2020-04 83.8 100.5
2020-03 87.2 102.6
2020-02 90.1 107.7
2020-01 92.8 109.0
2019-12 91.9 107.8
2019-11 89.3 105.2
2019-10 88.5 104.3
2019-09 89.0 105.3
2019-08 89.4 104.7
2019-07 96.0 111.5
2019-06 94.1 108.5
2019-05 92.1 107.3
2019-04 93.2 108.3
2019-03 91.0 105.0
2019-02 91.8 105.4
2019-01 88.6 101.2
2018-12 86.7 99.2
2018-11 88.8 101.7
2018-10 90.1 102.2
2018-09 86.9 97.1
2018-08 88.3 99.7
2018-07 90.9 101.4
2018-06 95.2 106.5
2018-05 95.9 106.0
2018-04 94.6 100.8
2018-03 94.6 100.3
2018-02 95.8 101.4
2018-01 94.4 101.1
2017-12 91.6 101.0
2017-11 91.8 102.1
2017-10 91.1 101.1
2017-09 92.8 101.7
2017-08 94.1 103.9
2017-07 92.4 104.7
2017-06 89.4 103.8
2017-05 89.7 105.8
2017-04 90.7 110.1
2017-03 95.4 116.2
2017-02 96.0 117.4
2017-01 93.2 114.3
2016-12 91.0 112.3
2016-11 89.7 108.2
2016-10 84.3 99.7
2016-09 83.3 97.0
2016-08 84.4 98.2
2016-07 84.7 99.9
2016-06 82.5 95.8
2016-05 80.3 92.7
2016-04 80.6 92.9
2016-03 77.9 91.7
2016-02 74.7 87.9
2016-01 72.8 87.4
2015-12 73.6 88.1
2015-11 74.9 90.9
2015-10 78.0 90.7
2015-09 78.7 91.6
2015-08 79.6 93.4
2015-07 81.0 96.4
2015-06 84.0 98.2
2015-05 84.7 99.5
2015-04 83.1 101.1
2015-03 84.3 101.8
2015-02 86.6 100.4
2015-01 89.3 101.2
2014-12 92.9 99.7
2014-11 95.3 101.3
2014-10 95.9 100.5
2014-09 97.6 100.6
2014-08 101.4 101.5
2014-07 102.5 101.1
2014-06 100.7 98.9
2014-05 103.0 100.2
2014-04 106.5 103.1
2014-03 104.8 101.4
2014-02 103.3 101.0
2014-01 102.7 100.8
2013-12 103.6 101.2
2013-11 100.8 99.7
2013-10 100.4 98.4
2013-09 100.0 99.8
2013-08 102.7 102.8
2013-07 102.1 103.8
2013-06 100.1 101.1
2013-05 102.5 105.1
2013-04 103.8 106.0
2013-03 105.0 107.5
2013-02 107.9 107.6
2013-01 106.6 106.8

Imported raw materials (excluding energy)

  • Source: INSEE

Oil prices accelerated considerably

In March 2022, the price of North Sea crude oil (Brent) in dollars jumped (+21.1% after +11.9%) to an average of $117.2. In euro terms, the acceleration in the price per barrel was even more marked (+24.7% after +11.6%), due to the depreciation of the euro against the dollar in March.

Oil (Brent)

price per barrel
Oil (Brent) (price per barrel)
Prices in dollars Prices in euros
2022-03 117.2 106.4
2022-02 96.8 85.4
2022-01 86.5 76.5
2021-12 74.4 65.8
2021-11 81.0 71.0
2021-10 83.5 72.0
2021-09 74.5 63.3
2021-08 70.9 60.2
2021-07 75.1 63.5
2021-06 73.2 60.8
2021-05 68.5 56.4
2021-04 64.8 54.1
2021-03 65.4 55.0
2021-02 62.3 51.5
2021-01 54.8 45.0
2020-12 50.0 41.1
2020-11 42.7 36.1
2020-10 40.2 34.1
2020-09 40.9 34.7
2020-08 44.8 37.8
2020-07 43.2 37.7
2020-06 40.3 35.8
2020-05 29.4 27.5
2020-04 18.5 16.9
2020-03 31.9 28.8
2020-02 55.7 51.1
2020-01 63.6 57.3
2019-12 67.2 60.4
2019-11 63.2 57.2
2019-10 59.7 54.0
2019-09 62.8 57.1
2019-08 59.0 53.1
2019-07 63.9 57.0
2019-06 64.3 56.9
2019-05 71.2 63.6
2019-04 71.2 63.4
2019-03 66.1 58.5
2019-02 64.0 56.4
2019-01 59.4 52.0
2018-12 56.5 49.8
2018-11 64.7 57.0
2018-10 81.0 70.6
2018-09 78.9 67.7
2018-08 72.5 62.8
2018-07 74.3 63.5
2018-06 74.4 63.7
2018-05 76.9 65.2
2018-04 72.0 58.7
2018-03 66.0 53.5
2018-02 65.3 52.9
2018-01 69.1 56.6
2017-12 64.4 54.4
2017-11 62.7 53.4
2017-10 57.5 48.9
2017-09 55.5 46.6
2017-08 51.9 44.0
2017-07 49.1 42.6
2017-06 47.6 42.4
2017-05 51.4 46.5
2017-04 53.8 50.1
2017-03 52.6 49.2
2017-02 56.0 52.6
2017-01 55.4 52.2
2016-12 54.9 52.1
2016-11 47.1 43.7
2016-10 51.4 46.6
2016-09 47.7 42.5
2016-08 46.8 41.8
2016-07 45.3 41.0
2016-06 48.2 43.0
2016-05 46.7 41.3
2016-04 41.6 36.7
2016-03 38.2 34.4
2016-02 32.2 29.0
2016-01 30.7 28.3
2015-12 38.0 35.0
2015-11 44.3 41.2
2015-10 48.4 43.1
2015-09 47.6 42.4
2015-08 46.6 41.9
2015-07 56.6 51.4
2015-06 61.5 54.8
2015-05 64.1 57.5
2015-04 59.5 55.4
2015-03 57.3 52.8
2015-02 58.2 51.3
2015-01 50.1 43.1
2014-12 64.2 52.2
2014-11 80.8 64.8
2014-10 88.7 70.0
2014-09 98.9 76.7
2014-08 103.5 77.7
2014-07 108.6 80.2
2014-06 111.9 82.3
2014-05 109.2 79.6
2014-04 108.0 78.1
2014-03 107.9 78.0
2014-02 108.7 79.6
2014-01 107.6 79.0
2013-12 110.7 80.7
2013-11 107.7 79.9
2013-10 109.4 80.2
2013-09 111.6 83.6
2013-08 110.1 82.8
2013-07 107.7 82.3
2013-06 102.8 78.0
2013-05 103.0 79.4
2013-04 103.8 79.5
2013-03 109.7 84.6
2013-02 116.4 87.1
2013-01 112.0 84.3

Oil (Brent)

  • Source: INSEE

Petroleum

Petroleum
prices Changes (%)
of last month over the last month over the last 3 months over the last 12 months
Brent in $ per barrel 117.2 21.1 57.5 79.2
Brent in € per barrel 106.4 24.7 61.6 93.6
Gasoline cts €/L 76.3 19.7 48.3 73.1
Gas Oil 1041.2 41.9 82.0 137.1
Heavy fuel 558.5 24.4 55.7 78.8
Naphtha 909.5 21.9 50.0 86.5
  • Prices are in euros per tonne unless otherwise specified
  • Source: INSEE

Industrial raw material prices rose sharply

Prices in euros of industrial raw materials accelerated strongly in March (+10.9% after +5.1% in February), in the wake of mineral materials (+12.2% after +5.8%). Non-ferrous metal prices went up sharply (+14.4% after +5.2%), as did those for ferrous metals (+9.2% after +7.5%) and precious metals (+9.1% after +2.6%).

Prices of agro-industrial raw materials also accelerated (+4.6% after +2.1%), driven by paper pulp prices (+11.5% after +4.7%) and those for natural textile fibres (+4.6% after +3.4%). Rubber prices, for their part, were less dynamic (+0.3% after +0.7%), while those for sawn softwood (+0.1% after +0.7%) and tropical woods (+0.1% after −0.4%) were virtually stable.

Industrial raw materials

index 2010=100
Industrial raw materials (index 2010=100)
Prices in foreign currencies Prices in euros
2022-03 144.8 173.8
2022-02 134.4 156.8
2022-01 127.6 149.2
2021-12 118.4 138.5
2021-11 110.3 127.7
2021-10 119.6 136.1
2021-09 116.5 130.8
2021-08 122.5 137.5
2021-07 134.7 150.5
2021-06 137.1 150.4
2021-05 140.7 153.1
2021-04 127.7 140.9
2021-03 120.8 134.2
2021-02 118.3 129.4
2021-01 115.0 124.9
2020-12 110.8 120.2
2020-11 97.1 108.2
2020-10 93.0 104.1
2020-09 94.1 105.1
2020-08 93.4 103.9
2020-07 84.8 97.3
2020-06 79.5 92.8
2020-05 74.2 89.4
2020-04 71.2 86.0
2020-03 74.7 88.7
2020-02 78.1 94.2
2020-01 82.2 97.5
2019-12 80.6 95.3
2019-11 78.0 92.7
2019-10 79.2 94.1
2019-09 81.0 96.8
2019-08 80.1 94.7
2019-07 90.1 105.8
2019-06 85.8 100.0
2019-05 83.8 98.5
2019-04 84.1 98.6
2019-03 82.3 95.9
2019-02 82.4 95.7
2019-01 76.3 88.0
2018-12 74.4 85.9
2018-11 76.9 88.9
2018-10 78.3 89.7
2018-09 76.4 86.2
2018-08 77.1 87.8
2018-07 77.6 87.6
2018-06 81.8 92.7
2018-05 82.7 92.7
2018-04 81.9 88.4
2018-03 81.5 87.5
2018-02 85.9 92.1
2018-01 85.4 92.6
2017-12 81.4 90.8
2017-11 79.9 89.8
2017-10 78.7 88.4
2017-09 80.7 89.4
2017-08 79.6 88.9
2017-07 73.7 84.3
2017-06 69.4 81.3
2017-05 71.3 84.8
2017-04 74.8 91.6
2017-03 80.4 98.9
2017-02 81.2 100.2
2017-01 76.4 94.5
2016-12 75.4 93.9
2016-11 71.8 87.6
2016-10 64.5 77.1
2016-09 63.2 74.3
2016-08 64.9 76.4
2016-07 63.7 75.9
2016-06 60.2 70.8
2016-05 60.8 71.1
2016-04 62.6 73.1
2016-03 60.3 71.8
2016-02 56.1 66.7
2016-01 53.3 64.7
2015-12 54.2 65.7
2015-11 56.0 68.9
2015-10 60.3 70.9
2015-09 61.7 72.7
2015-08 61.3 72.9
2015-07 62.8 75.9
2015-06 68.2 80.8
2015-05 69.6 82.9
2015-04 66.3 81.8
2015-03 67.6 82.9
2015-02 69.8 81.9
2015-01 71.9 82.5
2014-12 75.9 82.0
2014-11 79.1 84.5
2014-10 80.2 84.5
2014-09 82.3 85.2
2014-08 86.1 86.3
2014-07 86.4 85.2
2014-06 83.3 81.8
2014-05 84.8 82.5
2014-04 88.2 85.2
2014-03 86.6 83.6
2014-02 89.4 87.4
2014-01 91.7 89.9
2013-12 93.6 91.1
2013-11 93.1 92.1
2013-10 92.6 90.6
2013-09 92.2 92.1
2013-08 93.2 93.4
2013-07 89.2 91.0
2013-06 86.7 87.8
2013-05 90.5 93.2
2013-04 95.4 97.7
2013-03 98.7 101.5
2013-02 104.6 104.4
2013-01 102.7 103.1

Industrial raw materials

  • Source: INSEE

Significant increase in food commodity prices

Prices in euros of imported food commodities rose strongly in March (+7.7% after +2.6% in February). Prices for oilseeds (+15.2% after +5.3%), cereals (+11.5% after +2.7%), seafood (+10.4% after +2.0%) and meat (+8.6% after +1.2%) accelerated sharply. Sugar prices, on their side, recovered significantly (+8.1% after −1.7%). Only tropical commodity prices fell (−3.7% after +2.5%).

Food

index 2010=100
Food (index 2010=100)
Prices in foreign currencies Prices in euros
2022-03 159.3 186.8
2022-02 152.2 173.4
2022-01 148.0 169.0
2021-12 143.6 164.2
2021-11 139.7 158.2
2021-10 138.7 154.5
2021-09 137.4 150.8
2021-08 138.9 152.5
2021-07 133.1 145.5
2021-06 131.7 141.2
2021-05 133.3 141.9
2021-04 129.3 139.8
2021-03 121.6 132.0
2021-02 117.9 126.0
2021-01 114.0 121.0
2020-12 109.6 116.4
2020-11 108.3 118.2
2020-10 106.3 116.6
2020-09 104.6 114.5
2020-08 101.5 110.8
2020-07 98.7 111.3
2020-06 99.2 113.9
2020-05 103.4 122.7
2020-04 98.8 117.6
2020-03 102.0 119.1
2020-02 104.5 123.8
2020-01 105.5 122.8
2019-12 105.9 123.1
2019-11 103.2 120.6
2019-10 99.7 116.6
2019-09 98.5 115.6
2019-08 100.6 116.8
2019-07 102.5 118.0
2019-06 103.9 118.8
2019-05 102.0 117.7
2019-04 104.1 119.9
2019-03 101.5 116.0
2019-02 103.1 117.2
2019-01 103.9 117.5
2018-12 102.0 115.7
2018-11 103.5 117.6
2018-10 104.6 117.6
2018-09 99.7 110.5
2018-08 102.2 114.2
2018-07 107.3 118.6
2018-06 111.8 123.7
2018-05 112.2 122.5
2018-04 110.3 116.0
2018-03 110.9 116.1
2018-02 107.7 112.6
2018-01 105.0 111.3
2017-12 104.0 113.4
2017-11 106.5 117.3
2017-10 106.4 116.9
2017-09 107.7 116.8
2017-08 112.2 122.8
2017-07 116.4 130.7
2017-06 115.2 132.6
2017-05 113.4 132.6
2017-04 110.9 133.6
2017-03 114.1 138.0
2017-02 114.6 139.0
2017-01 114.6 139.4
2016-12 110.1 134.9
2016-11 112.2 134.1
2016-10 110.0 128.9
2016-09 109.6 126.3
2016-08 109.6 126.2
2016-07 112.3 131.1
2016-06 111.9 128.6
2016-05 105.7 120.7
2016-04 103.9 118.3
2016-03 100.6 117.1
2016-02 99.1 115.4
2016-01 98.5 117.1
2015-12 98.7 117.0
2015-11 99.1 119.1
2015-10 100.8 115.9
2015-09 100.3 115.5
2015-08 103.1 119.5
2015-07 104.3 122.6
2015-06 104.0 120.0
2015-05 103.8 120.3
2015-04 104.6 125.5
2015-03 105.4 125.6
2015-02 107.9 123.6
2015-01 111.2 124.7
2014-12 114.1 121.7
2014-11 115.6 122.2
2014-10 115.5 120.4
2014-09 116.7 119.9
2014-08 120.6 120.4
2014-07 122.7 120.8
2014-06 122.4 120.2
2014-05 125.7 122.2
2014-04 129.3 125.3
2014-03 127.5 123.4
2014-02 120.7 118.0
2014-01 116.8 114.6
2013-12 116.5 114.1
2013-11 110.6 109.4
2013-10 110.5 108.3
2013-09 110.1 109.7
2013-08 114.8 114.8
2013-07 118.5 120.1
2013-06 117.1 117.9
2013-05 117.9 120.2
2013-04 114.6 116.5
2013-03 113.1 115.4
2013-02 112.4 112.0
2013-01 111.6 111.7

Food

  • Source: INSEE

Imported raw materials (excluding energy) in euros

Base 100 in 2010
Imported raw materials (excluding energy) in euros (Base 100 in 2010)
Index of last month changes (in%)
du dernier mois over the last month over the last 3 months over the last 12 months
Food total 186.8 7.7 13.8 41.5
Tropical foodstuffs 149.3 -3.7 -2.9 51.5
Oil seeds, vegetable oils 201.6 15.2 26.3 32.8
Cereals 148.4 11.5 17.4 15.5
Sugar 103.5 8.1 2.3 30.6
Meat 227.5 8.6 17.0 41.1
Seafood products 160.3 10.4 18.7 49.7
Industrial raw materials 173.8 10.9 25.5 29.5
Agricultural raw materials 193.9 4.6 18.7 31.4
Natural Fibres 162.5 4.6 15.4 51.3
Natural rubber 62.9 0.3 4.4 8.0
Hides 78.2 2.9 2.6 59.9
Wood pulp 183.5 11.5 37.3 22.4
Tropical wood 101.7 0.1 1.5 2.6
Sawn softwood 557.0 0.1 12.8 37.6
Minerals 167.6 12.2 27.5 29.4
Ferrous metals 130.7 9.2 32.4 -2.5
Non-ferrous metals 189.9 14.4 29.7 60.5
Precious metals 176.7 9.1 14.4 15.7
All commodities 178.2 9.3 18.8 35.6
  • Source: INSEE

For further information

The relevant time series and a user guide are available at the bottom of this page.

Crude oil: from 1986, the price of Brent gradually established as a representative reference price of European supplies.

Petroleum: Prices of oil products are monthly averages.

Indices of non-energy raw materials imported by France: the indices calculated by INSEE are monthly averages of raw materials prices, weighted by their share in the French imports of raw materials (2010 = 100).

Next issue: 20 May 2022 at 12.00 pm

Pour en savoir plus

The relevant time series and a user guide are available at the bottom of this page.

Crude oil: from 1986, the price of Brent gradually established as a representative reference price of European supplies.

Petroleum: Prices of oil products are monthly averages.

Indices of non-energy raw materials imported by France: the indices calculated by INSEE are monthly averages of raw materials prices, weighted by their share in the French imports of raw materials (2010 = 100).

Next issue: 20 May 2022 at 12.00 pm

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