29 August 2014
2014- n° 196In July 2014, energy prices declined again Industrial Producer and Import Price Indices - July 2014
In July, French producer prices in industry for French market fell again, after a stabilisation in June (–0.3 % after 0.0 %). Energy prices moved down (–1.2 % after –0.3 %), driven by the significant decline in prices for electricity and gas (–1.7 % after –0.1 %), while prices for other products were stable overall.
Producer price indices in French industry : –0.2 % in July
FRENCH MARKET: –0.3 % in July
In July, French producer prices in industry for French market fell again, after a stabilisation in June (–0.3 % after 0.0 %). Energy prices moved down (–1.2 % after –0.3 %), driven by the significant decline in prices for electricity and gas (–1.7 % after –0.1 %), while prices for other products were stable overall.
Energy prices dropped again…
In July, the seasonal decline in prices for electricity (–1.8 % and +0.3 %) and gas (–1.5 % and –2.1 %) was sharper than in 2013, heightened by lower spot prices on wholesale markets.
Prices for refined petroleum products fell moderately (–0.5 % after +1.7 %) in a context of significantly lower prices for Brent crude sourced from the North Sea in both dollar and euro terms (–4.3 % and –3.7 % respectively). The drop in prices for heating oil and super unleaded gas was offset by the rise in kerosene prices.
… and food prices and prices for “other manufactured products” remained stable.
Food prices were unchanged or almost unchanged for the third month in a row. Prices for processed and preserved meat were stable (–0.1 %), prices for dairy products moved up (+0.6 %), while prices for oils and fats fell significantly (–2.4 %), due to lower oleaginous prices.
As in June, prices for “other manufactured products” remained stable and the decline in prices for chemical products (–0.3 % after –0.7 %) leveled off the rise in prices for textiles and wearing apparel (+0.4 % after +1.2 %), and for basic metals (+0.3 % after +0.2 %). Prices in the printing industry also increased this month (+0.2 %).
FOREIGN MARKETS: –0.2% in July
Producer prices of French industrial products sold on foreign markets dropped slightly (–0.2 % after +0.2 %). As on the French market, energy prices declined, notably electricity prices (–13.7 %) and prices for refined petroleum products (–1.4 %). Food prices also moved down (–0.3 %).
ALL MARKETS: –0.2 % in July
On all markets, prices dipped (–0.6 % after +0.4 %). Year over year, the fall was significant (–0.9 %) and affected all products, except prices for transport equipment which were almost unchanged (+0.2 %).
Import price indices of industrial products: –0.6 % in July
Import prices fell (–0.6 % after +0.4 %). Buying prices for all energy resources (crude and refined petroleum, gas, electricity) moved down, as well as food prices (–0.8 %), notably sheep meat. However, prices for basic metals rose (+0.6 %), driven by higher raw material prices (zinc, copper, aluminium).
graphiqueGraphique1_EN – Total Industry price indices
- Base and reference year : 2010
graphiqueGraphique2_EN – Producer price indices of manufactured products sold on the french market
- Base and reference year : 2010
graphiqueGraphique3_EN – Import price indices of manufactured products
- Base and reference year : 2010
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 | Jul.14 | In 1 month | In 1 year |
| French market | ||||
| BE:TOTAL INDUSTRY | 1000 | 107.2 | –0.3 | –0.6 |
| (DE) Mining and quarrying, energy, water | 226 | 108.3 | –1.2 | –0.9 |
| CZ: Manufactured prod. | 774 | 106.5 | 0.0 | –0.8 |
| (C1) Food products, beverages, tobacco | 196 | 110.9 | 0.0 | –1.3 |
| (C2) Coke and refined petroleum products | 49 | 126.3 | –0.5 | –4.2 |
| (C3) Electrical & electronic equip., computers, mach. | 53 | 101.8 | 0.0 | –0.8 |
| (C4) Transport equipment | 80 | 103.2 | 0.0 | 0.2 |
| (C5) Other man. products | 396 | 103.1 | 0.0 | –0.2 |
| Foreign markets | ||||
| BE:TOTAL INDUSTRY | 1000 | 102.7 | –0.2 | –1.0 |
| CZ: Manufactured prod. | 980 | 103.3 | –0.1 | –0.7 |
| (C1) Food products, beverages, tobacco | 100 | 112.8 | –0.3 | 0.7 |
| (C2) Coke and refined petroleum products | 37 | 126.5 | –1.4 | –2.8 |
| (C3) Electrical & electronic equip., computers, mach. | 194 | 97.7 | 0.1 | –0.3 |
| (C4) Transport equipment | 252 | 103.9 | 0.1 | 0.2 |
| (C5) Other man. products | 397 | 101.5 | 0.0 | –1.4 |
| All markets | ||||
| BE:TOTAL INDUSTRY | 1000 | 105.5 | –0.2 | –0.9 |
| CZ: Manufactured prod. | 845 | 105.2 | 0.0 | –0.8 |
| (C1) Food products, beverages, tobacco | 163 | 111.3 | –0.1 | –0.9 |
| (C2) Coke and refined petroleum products | 45 | 125.5 | –0.6 | –4.6 |
| (C3) Electrical & electronic equip., computers, mach. | 102 | 99.0 | 0.0 | –0.6 |
| (C4) Transport equipment | 140 | 103.6 | 0.0 | 0.2 |
| (C5) Other man. products | 395 | 102.6 | 0.0 | –0.6 |
tableauTableau2 – Import prices of industrial products
| Change in % | ||||
|---|---|---|---|---|
| Levels A 10 and A 17 of nomenclature CPF rev. 2, 2008 | Weight | Jul.14 | In 1 month | In 1 year |
| BE:TOTAL INDUSTRY | 1000 | 103.9 | –0.6 | –2.6 |
| CZ: Manufactured prod. | s | 102.6 | –0.1 | –1.5 |
| (C1) Food products, beverages, tobacco | 69 | 113.4 | –0.8 | –1.4 |
| (C2) Coke and refined petroleum products | 47 | 126.5 | –1.5 | –4.7 |
| (C3) Electrical & electronic equip., computers, mach. | 227 | 96.3 | 0.1 | –2.7 |
| (C4) Transport equipment | 147 | 99.6 | 0.0 | –0.3 |
| (C5) Other manufactured products | s | 102.9 | 0.2 | –0.7 |
- r: updated ; nd: non available ; s : confidential, source Insee
tableauTableau3 – Revision of each index at total industry level
| Apr.14 / Mar.14 | May 14 / Apr.14 | Jun.14 / May 14 | |
|---|---|---|---|
| French producer prices in industry sold on: | |||
| - the French market | –0.1 | // | // |
| - the foreign markets | // | // | // |
| - all markets | // | // | // |
| Import prices of industrial products | // | // | -0.1(1) |
- (1) Reading note: the import price development between April 2014 and May 2014 published last month was equal to 0.5%. It is updated to 0.4%; that is to say a revision of –0.1 point.
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