Informations Rapides · 28 October 2022 · n° 285

In September 2022 the industrial producer prices rose moderately over a month (+0.2%) and remained on a high rise over a year (+25.8%) Industrial Producer and Import Price Indices - September 2022

In September 2022, the industrial producer prices went up by 0.2% over a month, after a 2.4% rise in August. The prices of products intended for the home market decelerated (+1.0% after +2.8%) while those intended for foreign markets fell back for the first time since April 2022 (-1.9% after +1.5%). Over a year, the industrial producer prices continued to rise sharply: +25.8% in September 2022 (after +27.8%).

In September 2022, the industrial producer prices for the home market slowed down over a month (+1.0% after +2.8% in August), owing to the sharp deceleration of those of mining and quarrying products, energy and water (+3.0% after +10.4%), while the prices of manufactured products were almost unchanged (+0.1% after -0.4% in August). Over a year, the rise of the industrial producer prices for the home market remained strong: +28.5% (after +29.5%). Prices were 40% above their 2019 average level.

In September 2022, the prices of mining and quarrying products, energy and water decelerated over a month (+3.0% after +10.4% in August 2022) as over a year (+60.8% after +63.2%). They were 91% above their 2019 average level. The prices of trade services of gas through mains rose, albeit at a more moderate pace than in the previous month (+15.2% after +28.0%). Those of steam and air conditioning supply services strongly fell back (-16.0% after +19.2%), following the significant drop in the spot price of gas. Finally, the electricity production and trade prices rose moderately over one month (+0.5% after +8.7%) but were still rising at a very high pace over a year (+75.2%).

In the wake of oil prices, and for the third consecutive month, the prices of refined petroleum products fell back in September 2022 (-2.2% after -8.9%) and decelerated over one year (+69.2% after +79.5%). They were 81% above their 2019 average level.

In September 2022, the transport equipment prices accelerated over a month by +1.2% (after +0.2%), driven mainly by those of motor vehicles (+2.2% after +0.2%), manufacturers passing on their production costs increases (energy and raw materials). Over a year, the transport equipment prices rose by 7.5% (after +6.6%) and were 14% above their 2019 average level.

In September 2022, food and beverage prices decelerated over a month (+0.2% after +1.1%). This rise masked opposite trends: food product prices rose (+0.3% after +1.1%) due to the rise of their production and packaging costs (cardboard, plastic), while beverage prices fell back over a month (-0.9% after +0.3%), in particular those of wine from grape (-2.8% after -1.4%) which returned to their 2020 March level. Over a year, food and beverage prices continued to rise sharply (+19.7% in September 2022 as in August). These prices were 23% above their 2019 average level.

In September 2022, the prices of the “other industrial products” were unchanged over a month (+0.0% after +0.2% in August); they remained on a rise at a high pace over a year (+14.8% after +15.7% in the previous month). They stood about 23% above their 2019 average level. Within this set of products, the prices of paper and paper products went up (+0.9% after +0.6%) while the prices of basic metals kept going down (-1.5% after -1.1%).

In September 2022, electrical, computer and electronic equipment and machinery prices were slightly up over a month (+0.2% after +0.4%). They stood about 11% above their 2019 average level. The prices of other taps and valve products accelerated (+4.7% after -0.7%) while those of electricity distribution and control apparatus fell back (-1.6% after +1.6%). Over a year, electrical, computer and electronic equipment and machinery prices rose by 7.4% (after +7.8%).

In September 2022, the industrial producer prices for the foreign markets fell back over a month (-1.9% after +1.5%), especially those of electricity, while those of manufactured products slightly rebounded (+0.4% after -0.3%). Over a year, the industrial producer prices for the foreign markets decelerated (+19.2% after +23.4% in the previous month), but remained on a high rise. They were about 29% above their 2019 average level.

The prices of transport equipment accelerated over a month (+1.0% after +0.3%) as over a year (+8.9% after +7.6%), driven mainly by those of motor vehicles (+1.6% after +0.5%). In the wake of crude oil prices, the prices of refined petroleum products kept falling over a month (-6.9% after -9.0%) and decelerated sharply over a year (+46.3% after +64.9%). Driven by those of chemical products (+1.4% after -1.9%), the prices of the “other industrial products” rose by 0.4% over a month, after two consecutive falls (-0.5% in August and -0.2% in July). Those of paper and paper products kept rising (+1.3% after +1.8%), while those of basic metals fell back (-2.2% après -2.4%). The prices of the “other industrial products” prices remained, however, on a strong rise over a year (+15.0% after +15.6%).

Prices of food and beverages were up over a month (+1.0% as in August), due to a sugar price rebound (+7.1% after +0.5%). They accelerated over a year (+21.5% after +20.7%). At last, the prices of electrical, computer and electronic equipment and machinery decelerated over a month (+0.4% after +0.8%). Over a year, they went up by 7.6% (after +7.1%).

In September 2022, the import prices of industrial products fell back sharply over a month (-3.2% after +1.4%). The prices of mining and quarrying products, energy and water (especially those of natural gas) fell back strongly and those of manufactured products kept going down (-0.4% as in August). Over a year, the import prices of industrial products kept rising strongly but decelerated (+20.3% after +28.0%). They were about 35% above their 2019 average level.

In connection with trends in world oil prices, prices of coke and refined petroleum products fell markedly again over a month (-5.7% after -5.1%) and slowed down over a year (+69.0% after +93.7%). Those of the “other industrial products” remained almost unchanged over a month (-0.1% after -0.2%) and slowed down over a year (+12.5% after +13.5%). The prices of food, beverages and tobacco products rose over a month (+0.5% after +0.3%) and remained on a high rise over a year (+17.5% after +17.2%). Those of electrical, computer and electronic equipment and machinery were almost unchanged over a month (+0.1% after +0.2%) and decelerated very slightly over a year (+5.8% after +6.4%). At last, the prices of transport equipment were also almost unchanged over a month (+0.1% after +0.0% in August) and rose by 4.3% over a year (after +3.4% in August).