29 June 2012
2012- n° 163Sharp decline in energy prices Industrial Producer and Import Price Indices - May 2012
In May, French producer prices in industry fell significantly (-1.0 %), following a period of stable prices in April. This fall was mainly attributable to a sharp decline in prices for refined petroleum products combined with a seasonal drop in energy prices (electricity and heating oil).
Producer price indices in French industry
FRENCH MARKET: -1.0 % in May
In May, French producer prices in industry fell significantly (-1.0 %), following a period of stable prices in April. This fall was mainly attributable to a sharp decline in prices for refined petroleum products combined with a seasonal drop in energy prices (electricity and heating oil).
Prices for refined petroleum products fell significantly
Prices for refined petroleum products moved down significantly (-5.3 %), after a slight reduction in April (–1.3 %). Price for Brent crude sourced from the North Sea continued to drop, with the fall being less significant in euro terms (-4.9 % in May, following -2.5 %) than in dollar terms (-7.6 % in May, following -3.1 %) due to the depreciation of the euro. All prices for refined products declined sharply (-4.7 % for heating oil, -7.9 % for unleaded premium gas).
Prices for electricity, gas, steam and air conditioning fell by -3.1 % due to a seasonal drop in prices for electricity and heating oil.
Food prices were stable...
Food prices were stable (+0.1 %, following +0.2 % in April). Meat prices, most notably chicken, rose slightly (+0.6 %), while prices for dairy products moved down (–1.5 %).
...while prices for electronic and computer products moved down
Prices for electronic and computer products fell (–1.2 %) in May. Prices for electronic components and boards declined (-3.9 %) in a context of lower sales.
FOREIGN MARKETS: - 0.6 % in May
Producer prices of French industrial products sold on foreign markets fell in May (–0.6 %, following -0.2 % in April). Prices for refined petroleum products declined (–7.5 %), while electricity prices fell in a seasonal context following the winter tariffs.
ALL MARKETS: -0.9 % in May
In all markets, producer prices of French industrial products fell by -0.9 % Year-over-year, the rise was +1.7 % only for the "total industry", +9.1 % for "coke and refined petroleum products".
Import prices indices of industrial products : -1.2 % in May
In May, prices for imported industrial products continued to drop (-1.2 %, following -0.3 % in April). The decline in prices for crude oil and refined petroleum products was sharper than in April, while food prices fell (-0.3 %) in a seasonal context (-2.1 % for meat prices) and prices for metal products moved down (-0.8 %).
graphiqueGraphique1_EN – Total Industry price indices
graphiqueGraphique2_EN – Producer price indices of manufactured products sold on the french market
graphiqueGraphique3_EN – Import price indices of manufactured products
tableauTableau1 – French Producer Price Indices in industry according to the market where the products are sold:
| Change in % | ||||
|---|---|---|---|---|
| Levels A 10 and A 17 in CPF rev. 2, 2008 | Weight | May 12 | In 1 month | In 1 year |
| French market | ||||
| BE:TOTAL INDUSTRY | 1000 | 118.0 | –1.0 | 2.2 |
| (DE) Mining and quarrying, energy, water | 130 | 132.4 | –3.1 | 4.3 |
| CZ: Manufactured prod. | 870 | 115.9 | –0.7 | 1.8 |
| (C1) Food products, beverages, tobacco | 188 | 112.1 | 0.1 | 1.9 |
| (C2) Coke and refined petroleum products | 70 | 166.6 | –5.3 | 8.7 |
| (C3) Electrical & electronic equip., computers, mach. | 92 | 111.4 | –0.2 | 1.7 |
| (C4) Transport equipment | 79 | 106.3 | 0.1 | 1.4 |
| (C5) Other man. products | 441 | 112.1 | –0.1 | 0.3 |
| Foreign markets | ||||
| BE:TOTAL INDUSTRY | 1000 | 108.2 | –0.6 | 0.7 |
| CZ: Manufactured prod. | s | 107.8 | –0.2 | 1.1 |
| (C1) Food products, beverages, tobacco | 82 | 118.0 | 0.3 | 1.2 |
| (C2) Coke and refined petroleum products | 25 | 228.5 | –7.5 | 11.0 |
| (C3) Electrical & electronic equip., computers, mach. | 202 | 96.5 | 0.0 | –0.3 |
| (C4) Transport equipment | 211 | 100.9 | 0.1 | 1.1 |
| (C5) Other man. products | s | 107.7 | 0.4 | 0.6 |
| All markets | ||||
| BE:TOTAL INDUSTRY | 1000 | 114.9 | –0.9 | 1.7 |
| CZ: Manufactured prod. | s | 113.1 | –0.5 | 1.6 |
| (C1) Food products, beverages, tobacco | 154 | 113.1 | 0.1 | 1.8 |
| (C2) Coke and refined petroleum products | 56 | 175.2 | –5.7 | 9.1 |
| (C3) Electrical & electronic equip.. computers. mach. | 127 | 103.8 | –0.1 | 0.8 |
| (C4) Transport equipment | 121 | 103.3 | 0.1 | 1.2 |
| (C5) Other man. products | s | 110.7 | 0.1 | 0.4 |
tableauTableau2 – Import prices of industrial products
| Change en % | ||||
|---|---|---|---|---|
| Levels A 10 and A 17 of nomenclature CPF rev. 2. 2008 | Weight | May 12 | In 1 month | In 1 year |
| BE:TOTAL INDUSTRY | 1000 | 120.7 | –1.2 | 2.8 |
| CZ: Manufactured prod. | s | 110.5 | –0.5 | 1.4 |
| (C1) Food products. beverages. tobacco | 69 | 127.4 | –0.3 | 1.9 |
| (C2) Coke and refined petroleum products | 41 | 167.3 | –5.7 | 8.9 |
| (C3) Electrical & electronic equip.. computers. mach. | 210 | 94.0 | 0.1 | 0.5 |
| (C4) Transport equipment | 133 | 100.7 | 0.0 | –0.8 |
| (C5) Other manufactured products | s | 113.3 | –0.1 | 1.4 |
- r: updated ; nd: non available ; s : confidential
tableauTableau3 – Revision of each index at total industry level
| Feb.12 / Jan.12 | Mar.12 / Feb.12 | Apr.12 / Mar.12 | |
|---|---|---|---|
| French producer prices in industry sold on: | |||
| - the French market | // | // | // |
| - the foreign markets | // | +0.1 | -0.1(1) |
| - all markets | // | // | –0.1 |
| Import prices of industrial products | –0.1 | +0.1 | –0.1 |
- (1) Reading note: the evolution of the index between Mar.12 and Apr.12 published last month was equal to -0.1 %. It is updated to –0.2 %; that is to say a revision of -0.1 %.
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