Informations Rapides · 23 December 2022 · n° 344

In November 2022 the industrial producer prices rose anew over a month (+0.9%) and remained on a high rise over a year (+18.5%) Industrial Producer and Import Price Indices - November 2022

In November 2022, the industrial producer prices rose anew over a month (+0.9%), after a downturn in October (-1.1%). The prices of products intended for the home market rebounded (+1.2% after -0.2%) as well as those intended for foreign markets after two consecutive months of fall (+0.2% after -3.6% in October and -1.8% in September). Over a year, the industrial producer prices continued to rise sharply: +18.5% in November 2022 (after +21.4%). The industrial producer prices except energy went up by 0.2% over a month and by 12.8% over a year.

In November 2022, the industrial producer prices for the home market rebounded over a month (+1.2% after -0.2% in October), owing to the rebound of those of mining and quarrying products, energy and water, while the prices of manufactured products fell back (-0.5% after +1.4%). Over a year, the rise of the industrial producer prices for the home market remained sharp: +21.5% (after +24.7%). Prices were 40% above their 2019 average level.

In November 2022, the prices of mining and quarrying products, energy and water rebounded sharply over a month (+4.9% after -3.6% in October 2022) but decelerated over a year (+34.8% after +44.9%). They almost doubled compared to their 2019 average level. The prices of the distribution services of electricity rebounded markedly (switch to winter fares) as well as those of trade services of electricity (+7.3% after -0.5%), while the prices of trade services of gas through mains fell back again (-18.7% after -10.8%).

In the wake of crude oil prices, the prices of refined petroleum products went down sharply in November 2022 (-11.5% after +11.5%) but were still rising at a very high pace over one year (+50.6% after +67.0%). They were 80% above their 2019 average level.

In November 2022, the transport equipment prices accelerated over a month (+1.9% after +1.6%), especially those of motor vehicles (+3.7% after +2.6%), manufacturers passing on their production cost increases (raw materials and electronic components) and taking advantage of favourable competitive factors. Over a year, the transport equipment prices rose by 10.1% (after +8.7% in October) and were 18% above their 2019 average level.

In November 2022, food and beverage prices decelerated over a month (+0.7% after +0.9%) owing to those of food products (+0.6% after +1.0%). The prices of oils and fats rebounded (+6.9% after -2.1%). Over a year, food and beverage prices remained on a high rise (+20.2% after +20.3%), those of food products went up by +21.8%. At last, food and beverage prices were 25% above their 2019 average level.

In November 2022, the prices of the “other industrial products” were up over a month (+0.2% as in October), owing to the rise in chemicals and chemical product prices (+1.4% after -0.8%). Over a year, the prices of the “other industrial products” remained on a rise at a high pace (+12.7% after +13.6% in the previous month). They stood 24% above their 2019 average level.

In November 2022, the industrial producer prices for the foreign markets stood up anew after two months of fall (+0.2% after -3.6% and -1.8%), while those of manufactured products fell back (-0.7% after +0.7%). Over a year, the industrial producer prices for the foreign markets decelerated but remained on a high rise (+11.1% after +12.8% in the previous month). They were 25% above their 2019 average level.

In the wake of crude oil prices, the prices of refined petroleum products fell back markedly over a month (-9.1% after +8.6%) and decelerated sharply over a year (+27.8% after +40.9%). For the first time since October 2021, prices of transport equipment fell back (-0.8% after +0.7%) in particular those intended to markets outside the euro area, but they stood at a high rise over a year (+8.8% after +10.3%). The prices of the “other industrial products” also fell back in November 2022 (-0.5% after remaining unchanged in October) and slowed down over a year (+12.4% after +14.0%). Those of food and beverages decelerated slightly over a month (+0.6% after +0.7%). They kept rising markedly over a year (+21.7% after +21.9%). At last, the prices of electrical, computer and electronic equipment and machinery were almost unchanged over a month (+0.1% after +0.2%). Over a year, they went up by 6.9% (after +7.0%).

In November 2022, the import prices of industrial products were down for the third consecutive month (-0.4% after -1.2% in October and -3.0% in September). The prices of manufactured products fell back (-1.4% after +1.2%) while those of mining and quarrying products, energy and water (especially those of electricity) rose. Over a year, the import prices of industrial products kept rising sharply but decelerated (+12.0% after +15.0%). They were 33% above their 2019 average level.

In connection with trends in international oil prices and the appreciation of the euro against the dollar, prices of coke and refined petroleum products fell back markedly over a month (-12.9% after +10.9%) and slowed down over a year (+49.8% after +69.3%).

Prices of “other industrial products” fell back over a month (-0.9% after +0.4%) driven by those of chemicals and chemical products (-2.0% after +0.4%) and those of basic metals (-2.6% after -1.1%). Over a year, prices of the “other industrial products” slowed down (+9.3% after +11.8%). Those of food, beverages and tobacco products accelerated over a month (+0.7% after +0.3%) owing to the high rise of the prices in processed and preserved potatoes products (+11.3% after +4.8%) but slowed down slightly over a year (+16.2% after 16.6%).

Prices of electrical, computer and electronic equipment and machinery remained unchanged over a month (+0.0% after +0.6%), and slightly slowed down over a year (+5.8% after +6.0%). Finally, prices of transport equipment were almost unchanged over a month (-0.1% after +0.7%) and rose by 4.3% over a year (as in October).