In August 2012, further strong increase in oil pricesPrices of oil and raw material imports - August 2012

In August, the oil price in dollars continued to increase strongly (+9.9% after +6.0% in July). It stood at $112.4 per barrel of Brent. On the contrary, the prices in foreign currencies of commodities except energy imported into France slightly fell (-0.5% after +2.2% in July).

In August, the oil price in dollars continued to increase strongly (+9.9% after +6.0% in July). It stood at $112.4 per barrel of Brent. On the contrary, the prices in foreign currencies of commodities except energy imported into France slightly fell (-0.5% after +2.2% in July).

The oil prices continued to rise

In August, the price in dollar of the barrel of oil from the North Sea (Brent) increased again (+9.9% after +6.0%). In euros, the rise in oil prices was somewhat more subdued (+8.8% after +8.2 %), due to the appreciation of the euro against the dollar (+1.0%).

Industrial raw material prices still decreasing

In August, the prices in foreign currencies of industrial raw materials declined further (-3.5% after -1.0% in July). On then one hand, the prices of mineral raw materials went on falling (-4.1% after -1.1%). In particular, the prices of nonferrous metals dropped (-2.0% after +0.0%), notably those of titanium (-4.6%), nickel (-3.1%), aluminium (-1.9%) and zinc (-1.9%). Conversely, the prices of precious metals rebounded (+2.9% after –1.2%), mainly that of silver (+4.6%), palladium (+4.3%) and gold (+2.0%)

On the other hand, the prices of agricultural raw materials receded more sharply than in July (-1.9% after –0.9%), in particular those of tropical sawn wood (-12.7%), natural rubber (-11.4%), and to a lesser extent of natural fibers (–0.9%), because of the decline of wool prices (-9.2%).

The rise in prices of raw food materials continued

In August, the prices in foreign currencies of raw food materials grew again (+4.3% after +7.7% in July). Indeed, the prices of tropical foodstuff went on rising (+3.0% after +4.9%), due to the increase in the prices of cocoa (+9.0%) and tea (+2.2%). Likewise, the prices of oilseeds remained on a rising trend (+7.3% after +15.8%), in particular those of olive oil (+9.6%) and soybean meal (+9.5%). The prices of cereals slowed down (+1.2% after +5.6%), thanks to a more moderate rise in corn prices (+3.4% after +28.9%) and to the decrease in rice prices (-1.0%). The prices of beef meat rebounded (+3.9%) while those of sugar fell back (-9.8% after +11.3%), due to improved harvest prospects in Brazil and a drop in end-users demand.

tabpetrole – Oil and petroleum products

in dollar
Oil and petroleum products
Prices Change (%)
over the last month over the last month over the last 3 months over the last 12 months
Brent in $ per barrel 112,4 9,9 0,8 2,0
Brent in € per barrel 90,6 8,8 3,9 17,9
Gasoline 0,8 9,8 5,4 7,3
Gas Oil 964,8 8,4 3,3 2,7
Heavy fuel 691,6 9,0 2,2 6,9
Naphtha 934,2 13,3 5,9 –0,8
  • Prices are in dollars per tonne unless otherwise specified
  • Source : INSEE

tabmatprem – Imported raw materials (excluding energy) in domestic currency

base 100 in 2000
Imported raw materials (excluding energy) in domestic currency
Index Changes (%)
over the last month over the last 3 months over the last 12 months
Food total 286,5 4,3 10,3 5,7
Tropical foodstuff 233,9 3,0 3,6 –18,6
Oil seeds, vegetable oils 388,6 7,3 23,8 35,9
Cereals 318,7 1,2 5,3 5,7
Sugar 252,0 –9,8 1,4 –28,9
Beef meat 164,8 3,9 –3,4 1,9
Industrial raw materials 231,1 –3,5 –8,3 –22,2
Agricultural raw materials 140,6 –1,9 –6,3 –12,2
Natural Fibers 174,0 –0,9 –5,6 –27,3
Natural rubber 328,5 –11,4 –22,4 –40,9
Hides 108,2 2,7 1,0 1,2
Wood pulp 120,8 –2,4 –3,3 –17,7
Tropical sawn wood 123,8 –12,7 –16,1 –22,7
Sawn softwood 120,5 5,4 1,5 33,9
Minerals 278,9 –4,1 –9,0 –25,3
Iron ore 865,9 –15,7 –20,9 –39,3
Non-ferrous metals 216,4 –2,0 –7,1 –21,8
Precious metals 404,8 2,9 1,0 –18,1
All commodities 240,9 –0,5 –1,5 –12,8
  • Source : INSEE

G_petrole_ang – Oil

  • Source : INSEE

G_alim_ang – Food

  • Source : INSEE

G_ensemble_ang – All commodities

  • Source : INSEE

G_indus_ang – Industrial raw materials

  • Source : INSEE