31 January 2017
2017- n° 30In December 2016, further increase in producer prices in industry (+1.0%) Industrial Producer and Import Price Indices - December 2016
On all markets (French market and foreign markets), producer prices in industry sped up in December 2016 (+1.0% after +0.6% in November). Year over year, producer prices recovered clearly: +1.7% after −0.4%. This has been the sharpest year-on-year rise since April 2013.
Producer prices in French industry: +1.0% in December
On all markets (French market and foreign markets), producer prices in industry sped up in December 2016 (+1.0% after +0.6% in November). Year over year, producer prices recovered clearly: +1.7% after −0.4%. This has been the sharpest year-on-year rise since April 2013.
FRENCH MARKET: +0.9%
In December, French producer prices in industry for the French market continued to grow (+0.9% after +0.7% in November and in October). The rise is attributable to energy products, while the prices were virtually stable in other sectors.
Strong rebound in prices for refined petroleum products
In December, the prices of refined petroleum products bounced back significantly (+15.3%) after a downturn in November (−5.4% after +10.7% in October). The rise was particularly sharp for gasoils, jet fuels and medium oils like naphta. Year over year, refined petroleum products prices went through the roof, regarding the December 2015 low levels (+42.2%).
Slowdown in prices for other energy products
In December, the prices of mining and quarrying products, energy and water kept growing but at a more moderate pace (+0.8% after +3.9% in November). Gas prices slowed down despite the raise in regulated tariffs on 1st December. Moreover, electricity prices grew less than in November thanks to the restart of several nuclear units
Virtual stability in food prices
In December as in November, food prices were virtually stable (+0.1%). By product, price variations ranged from +2.1% for prepared and preserved fish, including smoked salmon, to −1.2% for preserved fruit and vegetable products.
Virtual stability in prices for “other industrial products”
The prices of “other industrial products” were virtually stable again (+0.1% in December as in November). Prices of rubber products and basic metals and metallic products continued to rise. On the other hand, prices of chemical products decreased, despite the upswing in oil prices. The prices of other products of this category were stable or virtually stable.
FOREIGN MARKETS: +1.1%
The producer prices of French industrial products sold on foreign markets gained pace in December (+1.1% after +0.5%). Prices rose in all major sectors except for transport equipment. Year over year, export prices picked up (+1.7% in December after −0.2% in November).
Import price indices of industrial products: +1.8% in December
In December, the import prices of industrial products recovered (+1.8% after +0.0%). All products became more expensive. Import prices were significantly higher than a year ago (+2.8%).
graphiqueGraph1 – Total Industry price indices
- Source: INSEE
graphiqueGraph2 – Producer price indices of manufactured products sold on the French market
- Source: INSEE
graphiqueGraph3 – Import price indices of manufactured products
- Source: INSEE
tableauTable1 – 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 | Dec.16 | In 1 month | In 1 year |
| French market | ||||
| BE:TOTAL INDUSTRY | 1000 | 104.7 | 0.9 | 1.7 |
| (DE) Mining and quarrying, energy, water | 193 | 113.0 | 0.8 | 1.3 |
| CZ: Manufactured prod. | 807 | 102.2 | 0.9 | 1.7 |
| (C1) Food products, beverages, tobacco | 188 | 107.6 | 0.1 | –0.5 |
| (C2) Coke and refined petroleum products | 53 | 93.4 | 15.3 | 42.2 |
| (C3) Electrical & electronic equip., computers, mach. | 71 | 101.0 | 0.1 | –0.2 |
| (C4) Transport equipment | 124 | 103.8 | 0.1 | –0.1 |
| (C5) Other man. products | 371 | 100.8 | 0.1 | 0.1 |
| Foreign markets | ||||
| BE:TOTAL INDUSTRY | 1000 | 103.7 | 1.1 | 1.7 |
| (DE) Mining and quarrying, energy, water | 32 | 115.4 | 10.0 | 28.7 |
| CZ: Manufactured prod. | 968 | 103.3 | 0.8 | 0.8 |
| (C1) Food products, beverages, tobacco | 122 | 115.5 | 1.9 | 1.4 |
| (C2) Coke and refined petroleum products | 26 | 86.7 | 9.7 | 25.7 |
| (C3) Electrical & electronic equip., computers, mach. | 180 | 99.9 | 0.4 | –0.2 |
| (C4) Transport equipment | 169 | 104.8 | –0.8 | –0.4 |
| (C5) Other man. products | 471 | 101.6 | 0.6 | 0.1 |
| All markets | ||||
| BE:TOTAL INDUSTRY | 1000 | 103.9 | 1.0 | 1.7 |
| (DE) Mining and quarrying, energy, water | 159 | 113.2 | 1.3 | 2.4 |
| CZ: Manufactured prod. | 841 | 102.1 | 0.8 | 1.4 |
| (C1) Food products, beverages, tobacco | 175 | 109.0 | 0.4 | –0.2 |
| (C2) Coke and refined petroleum products | 49 | 91.5 | 14.4 | 39.3 |
| (C3) Electrical & electronic equip., computers, mach. | 85 | 99.5 | 0.2 | –0.2 |
| (C4) Transport equipment | 123 | 104.3 | –0.2 | –0.2 |
| (C5) Other man. products | 409 | 100.9 | 0.2 | 0.1 |
- Source: INSEE
tableauTable2 – Import prices of industrial products
| Change in % | ||||
|---|---|---|---|---|
| Levels A 10 and A 17 of nomenclature CPF rev. 2, 2008 | Weight | Dec.16 | In 1 month | In 1 year |
| BE:TOTAL INDUSTRY | 1000 | 97.6 | 1.8 | 2.8 |
| CZ: Manufactured prod. | s | 99.6 | 1.0 | 1.6 |
| (C1) Food products, beverages, tobacco | 71 | 115.8 | 0.5 | 3.5 |
| (C2) Coke and refined petroleum products | 53 | 88.1 | 15.8 | 36.4 |
| (C3) Electrical & electronic equip., computers, mach. | 225 | 96.2 | 0.3 | –1.0 |
| (C4) Transport equipment | 147 | 97.1 | 0.2 | –0.9 |
| (C5) Other manufactured products | s | 101.9 | 0.5 | 0.8 |
- nd: non available ; s : confidential
- Source: INSEE
tableauTable3 – Revision of variations
| Sep.16 / Aug.16 | Oct.16 / Sep.16 | Nov.16 / Oct.16 | |
|---|---|---|---|
| French producer prices in industry sold on: | |||
| - the French market | // | –0.2 | –0.1 |
| - the foreign markets | –0.1 | // | +0.2 |
| - all markets | // | –0.1 | –0.1 |
| Import prices of industrial products | // | +0.2 | // |
- How to read it: the change in the producer price index in industry for products sold on the French market between October and November 2016 has been revised by −0.1 points: published at the end of November equal to +0.8%, it has been updated to +0.7%.
Nota bene : important changes occurred in electricity sector on 1st January 2016, with the end of part of regulated tariffs. Due to this change on the electricity market, electricity production price indexes may be revised more than usual.
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