In 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%).

Informations rapides
No 88
Paru le : 31/03/2017
Prochaine parution le : 31/10/2017 at 08:45 - September 2017

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%).

Graph1 – Total Industry price indices

  • Source: INSEE

Graph2 – Producer price indices of manufactured products sold on the French market

  • Source: INSEE

Graph3 – Import price indices of manufactured products

  • Source: INSEE

Table1 – French Producer Price Indices in industry according to the market where the products are sold

reference year: 2010
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

Table2 – Import prices of industrial products

reference year: 2010
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

Table3 – Revision of variations

In %
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.