31 March 2017
2017- n° 88In February 2017, downturn in producer prices in industry (−0,4%) Industrial Producer and Import Price Indices - February 2017
On all markets (French market and foreign markets), producer prices in industry declined in February 2017 (−0.4% after +1.2% in January). Year over year, they kept increasing sharply (+4.0% after +3.8%).
Producer prices in French industry: −0.4% in February
On all markets (French market and foreign markets), producer prices in industry declined in February 2017 (−0.4% after +1.2% in January). Year over year, they kept increasing sharply (+4.0% after +3.8%).
FRENCH MARKET: −0.2%
In February, French producer prices in industry for the French market fell back slightly (−0.2% after +1.0%) mainly due to the drop in the prices of mining and quarrying products, energy and water. Prices went up or were virtually stable in other sectors.
Slowdown in prices for refined petroleum products
In February, the prices of refined petroleum products grew again but more moderately than the month before (+1.1% after +1.7%). The prices of all refined petroleum products rose except those for oils. The sharpest increase occurred for petroleum gases as a result of strong demand in the chemical sector and supply limited by closing for maintenance of some refineries. Year over year, refined petroleum products prices kept soaring (+65.6% after +63.1%).
Sharp retreat in prices for mining and quarrying products, energy and water
In February, the prices of mining and quarrying products, energy and water shrank (−2.2% after +3.1% in January), essentially due to a strong decrease in electricity price, in particular in the wholesale market. Year over year however, prices increased by 5.4%.
Rebound in food prices
In February, food prices picked up (+0.3%) after three months of virtual stability. The rises involved most of products and were the result of increases in raw material prices (butter, wheat, fish, meat, etc.). Year over year, prices went up (+0.4%) for the first time since October 2013.
Further increase in prices for “other industrial products”
The prices of “other industrial products” rose again in February (+0.4% after +0.6%). The prices of chemical products, and those of basic metals and metallic products continued to rise in the wake of raw material prices. The prices for other products in this sector also increased or were virtually stable.
FOREIGN MARKETS: −0.7%
The producer prices of French industrial products sold on foreign markets declined in February (−0.7% this month after +1.6%), mainly due to energy products (mining and quarrying products, energy and water). Export prices rose or were stable in other sectors. Year over year, they grew by 4.1% (after +3.8% in January).
Import price indices of industrial products: +0.4% in February
In February, the import prices of industrial products went up again (+0.4% after +0.6% in January). All products became more expensive, in particular refined products and “other industrial products”. Year over year, import prices remained significantly higher (+6.4%).
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 | Feb.17 | In 1 month | In 1 year |
| French market | ||||
| BE:TOTAL INDUSTRY | 1000 | 105.5 | –0.2 | 3.9 |
| (DE) Mining and quarrying, energy, water | 193 | 113.7 | –2.2 | 5.4 |
| CZ: Manufactured prod. | 807 | 103.0 | 0.3 | 3.5 |
| (C1) Food products, beverages, tobacco | 188 | 107.9 | 0.3 | 0.4 |
| (C2) Coke and refined petroleum products | 53 | 95.9 | 1.1 | 65.6 |
| (C3) Electrical & electronic equip., computers, mach. | 71 | 101.4 | –0.1 | 0.6 |
| (C4) Transport equipment | 124 | 103.8 | –0.1 | –0.1 |
| (C5) Other man. products | 371 | 101.9 | 0.4 | 2.0 |
| Foreign markets | ||||
| BE:TOTAL INDUSTRY | 1000 | 104.4 | –0.7 | 4.1 |
| (DE) Mining and quarrying, energy, water | 32 | 104.0 | –24.2 | 30.3 |
| CZ: Manufactured prod. | 968 | 104.5 | 0.5 | 3.4 |
| (C1) Food products, beverages, tobacco | 122 | 115.4 | 0.3 | 2.0 |
| (C2) Coke and refined petroleum products | 26 | 88.6 | –2.9 | 50.4 |
| (C3) Electrical & electronic equip., computers, mach. | 180 | 100.3 | 0.0 | 0.8 |
| (C4) Transport equipment | 169 | 104.6 | 0.0 | –0.9 |
| (C5) Other man. products | 471 | 103.7 | 1.1 | 4.0 |
| All markets | ||||
| BE:TOTAL INDUSTRY | 1000 | 104.6 | –0.4 | 4.0 |
| (DE) Mining and quarrying, energy, water | 159 | 113.3 | –3.6 | 6.4 |
| CZ: Manufactured prod. | 841 | 103.0 | 0.4 | 3.5 |
| (C1) Food products, beverages, tobacco | 175 | 109.2 | 0.3 | 0.6 |
| (C2) Coke and refined petroleum products | 49 | 93.9 | 0.4 | 63.0 |
| (C3) Electrical & electronic equip., computers, mach. | 85 | 99.9 | –0.1 | 0.7 |
| (C4) Transport equipment | 123 | 104.3 | 0.0 | –0.2 |
| (C5) Other man. products | 409 | 102.4 | 0.7 | 2.6 |
- Source: INSEE
tableauTable2 – Import prices of industrial products
| Change in % | ||||
|---|---|---|---|---|
| Levels A 10 and A 17 of nomenclature CPF rev. 2, 2008 | Weight | Feb.17 | In 1 month | In 1 year |
| BE:TOTAL INDUSTRY | 1000 | 98.5 | 0.4 | 6.4 |
| CZ: Manufactured prod. | s | 100.1 | 0.4 | 3.7 |
| (C1) Food products, beverages, tobacco | 71 | 116.6 | 0.3 | 4.2 |
| (C2) Coke and refined petroleum products | 53 | 90.9 | 0.7 | 66.8 |
| (C3) Electrical & electronic equip., computers, mach. | 225 | 96.2 | 0.1 | –0.2 |
| (C4) Transport equipment | 147 | 97.2 | 0.0 | –0.3 |
| (C5) Other manufactured products | s | 102.4 | 0.7 | 2.8 |
- nd: non available ; s : confidential
- Source: INSEE
tableauTable3 – Revision of variations
| Nov.16 / Oct.16 | Dec.16 / Nov.16 | Jan.17 / Dec.16 | |
|---|---|---|---|
| French producer prices in industry sold on: | |||
| - the French market | // | // | +0.3 |
| - the foreign markets | // | –0.1 | // |
| - all markets | // | // | +0.2 |
| Import prices of industrial products | // | –0.1 | // |
- How to read it: the change of the producer price index in industry for products sold on the French market between December 2016 and January 2017 has been revised by +0.3 points : published at the end of February equal to +0.7%, it has been updated to +1.0%.
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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