23 December 2011

2011- n° 314

Stability in manufactured products prices, except for energy Industrial Producer and Import Price Indices - November 2011

In November, French producer prices in industry increased by 0.4 %, following +0.5 % in October. Manufactured products (including refined petroleum products), and mining and energy prices, increased by 0.4 % and 0.5 %, respectively. Except for refined petroleum products and electricity, French producer prices in industry were unchanged.

In a context of higher Brent crude (sourced from the North Sea) prices, heightened by the euro depreciation against the US dollar (+3.3 % in euro, +2.2 % in US dollar), prices of refined petroleum products increased by 3.4 % in November (+0.4 % in October).

Electricity prices recorded a seasonal increase for the third consecutive month (+0.6 % in November, following +4.3 % and +0.6 % in October and September, respectively).

The stabilization of “other manufactured products” prices (-0,1 %) is attributable to very moderate price increases, notably in repair and installation services (+0.2 %), and to a slight decline in chemical products, and basic metals and metal products prices (-0.3 % and -0.4 %, respectively), linked to the movement of raw material prices (nickel, aluminium, hydrocarbons, ... )

Food prices were unchanged (+0.1 %, following +0.3 % in October). This movement is attributable to seasonal and significant increases in meat prices (+2.5 % for processed and preserved meat) and a decline in prepared animal feeds (-1.5 %), linked to the decline in cereal prices.

Producer prices of French industrial products sold on foreign markets increased slightly by 0.2 %, following +0.1 % in October. Overall, prices of manufactured products were unchanged : the significant increase in refined petroleum products prices (+3.6 %) was offset by a decline in “other manufactured products” prices (–0.4 %), most notably basic metals (-1.2 %), linked to the nickel price.

On all markets, producer prices of French industrial products increased by 0.3 %, following +0.4 % in October. The year-over-year increase was +4.8 % in November, after + 5.1 % in October .

Imported industrial products prices increased by 0.5 %, following a decline in October (-0.3 %). These higher import prices were mainly attributable to an increase in crude oil and petroleum products prices, while the other manufactured products prices declined.