Informations Rapides · 31 January 2025 · n° 28

In December 2024, the industrial producer prices rose by 0.8% over a month and fell by 2.5% over a year Industrial Producer and Import Price Indices - December 2024

In December 2024, the overall producer prices in the French industry slowed (+0.8% after +3.0% in November and +0.9% in October). Producer prices slowed both for products sold on the French market (+1.0% after +3.7%) and for those intended for the foreign markets (+0.3% after +1.2% in November). Over a year, the French industrial producer prices fell for the eighteenth consecutive month (-2.5% after -3.5% in November and -4.8% in October). They were around 23% above their 2021 average level.

Excluding energy, the producer prices in the French industry rose slightly over a month (+0.2% after a virtual stability in November), and rose over a year (+0.9% after +0.6% in November).

In December 2024, the rise in producer prices in French industry for the home market slowed over a month (+1.0% after +3.7% in November): prices of mining and quarrying products, energy and water decelerated sharply (+3.2% after +13.3%), and those of manufactured products were virtually stable (+0.1% as in November). Over a year, the producer prices in the French industry for the home market fell for the thirteenth consecutive month (-3.8% after -4.7% in November and -5.9% in October). They were around 26% above their 2021 average level.

In December 2024, prices for mining and quarrying products, energy and water slowed sharply (+3.2% after +13.3%), after a particularly sharp rise in electricity prices in November. Over a year, prices for mining and quarrying products, energy and water declined for the thirteenth consecutive month (-12.0%), but were around 50% above their 2021 average level.

Prices for food and beverages rose in December (+0.3% after a stability in November): prices of meat and meat products bounced back (+1.1% after four consecutive months of decline), mainly due to seasonal demand for the festive season, and prices of cocoa, chocolate and sugar confectionery rebounded sharply (+5.9% after -1.7%), in a context of poor weather conditions in West Africa combined with strong seasonal demand. Over a year, food and beverages prices rose by 0.6% and were around 27% above their 2021 average level.

Prices for “other industrial products” rose slightly over a month (+0.2% after -0.1%): the decline in prices of textile fibres, which increased (-24.9% after -14.0%) still due to high flax production (linked to abundant rainfall), was offset by the rebound of those of pharmaceutical preparations (+2.1% after -1.1%). Over a year, prices for “other industrial products” rose by 0.9%, and remained around 15% above their 2021 average level.

Prices of refined petroleum products fell back over a month (-1.2% after +1.6% in November): world oil prices fell slightly in December. Over a year, they fell by 8.0%, but were still around 28% above their 2021 average level.

In December 2024, prices for electrical, computer and electronic equipment and machinery were stable over a month (after +0.2% in November). Over a year, they rose by 1.1% and were around 14% above their 2021 average level.

Prices of transport equipment were also stable over a month (after a virtual stability in November). Over a year, they rose by 0.5% and were about 8% above their 2021 average level.

In December 2024, the industrial producer prices for the foreign markets slowed over a month (+0.3% after +1.2% in November). Prices of manufactured products continued to rise (+0.3% after +0.4% in November), and those of mining and quarrying products, energy and water slowed sharply.

Prices for transport equipment slowed over a month (+0.6% after +0.9% in November), following those of air and spacecraft and related machinery (+0.8% after +1.2% in November). Food and beverages prices also slowed over a month (+0.3% after +0.9%), as those, to a lesser extent, for electrical, computer, and electronic equipment and machinery (+0.3% after +0.4%). Prices of “other industrial products” rose slightly over a month (+0.2% after +0.1% in November): the sharp fall in prices of textile fibres, which continued (-20.7% after -21.8%), was offset by the rebound in prices of rubber and plastics products, and other non-metallic mineral products (+0.6% after -0.5% in November).

Prices of refined petroleum products continued to fall in December (-0.7% after -0.2% in November).

Over a year, the industrial producer prices for the foreign markets accelerated (+1.4% in December after +0.4% in November). They were around 15% above their 2021 average level.

In December 2024, the import prices of industrial products were virtually stable (+0.1% after +1.3% in November). Prices of manufactured products were virtually stable (+0.1% after +0.4% in November), and those of mining and quarrying products, energy and water fell slightly, following a sharp rise in November.

Prices of refined petroleum products continued to rise in December (+1.2% as in November), as did those for electrical, computer, and electronic equipment and machinery (+0.4% after +0.5% in November).

Prices for transport equipment fell back over the month (-0.4% after +0.2%), driven by those of motor vehicles (-1.0% after +0.3%) and particularly passenger cars from Spain.

Finally, food and beverages prices were virtually stable over a month (+0.1% after +0.5%), as were those of “other industrial products” (+0.1% after +0.4%).

Over a year, the import prices of industrial products rebounded in December 2024 (+0.6% after -0.4% in November). They were around 13% above their 2021 average level.

In addition to the long-term revision presented in the Warning, the evolution of the producer price index in the French industry for the home market between October 2024 and November 2024 has been revised upwards by 0.5 points (mainly due to the inclusion of late-arriving information): published in late December 2024 at +3.2%, it has been reviewed at +3.7%.