28 April 2017

2017- n° 116

In March 2017, further decrease in producer prices in industry (−0,5%) Industrial Producer and Import Price Indices - March 2017

On all markets (French market and foreign markets), producer prices in industry declined again in March 2017 (−0.5% after −0.4% in February). Year over year, they slowed down (+3.1% after +3.9%).

In March, French producer prices in industry for the French market went down again (−0.5% after −0.3%), due to the prices of refined petroleum products and, to a lesser extent, to that of mining and quarrying products, energy and water. Prices increased slightly or were virtually stable in other sectors.

In March, the prices of refined petroleum products shrank (−6.8% after +1.1%) in the wake of the Brent price. The decline in prices involved all refined petroleum products but was sharper for gas oils. Year over year, refined petroleum product prices kept soaring (+34.0% after +65.6%).

In March, the prices of mining and quarrying products, energy and water fell again (−1.1%) but less strongly than in the previous month (−2.4%). Prices in wholesale markets for electricity and gas kept declining. However, year over year, prices of mining and quarrying products, energy and water grew by 3.5%.

In March, food prices kept increasing slightly (+0.2% after +0.3%). By product, prices variations ranged from +0.9% for meats to −1.4% for other prepared and preserved fruit and vegetable products. Year over year, the prices recover has been confirmed (+1.1% after +0.4%).

In March, the prices of “other industrial products” rose at a more moderate pace than in February (+0.2% after +0.4%). The prices of basic metals and metallic products continued to rise driven by metal prices. The prices for rubber and plastic products went up sligthly, above all because of pressures on raw material supplies. Prices of other products in this sector were virtually stable or went down.

The producer prices of French industrial products sold on foreign markets declined by −0.6% in March (as in February), due to energy products (mining and quarrying products, energy and water and to a lesser extent, refined petroleum products). Export prices were virtually stable in other sectors. Year over year, they increased by 3.4% (after +4.2% in February).

In March, the import prices of industrial products fell back (−0.5% after +0.5%) due to refined petroleum product prices. However, transport equipment and “other industrial products” became more expensive. Year over year, import prices kept growing sharply (+4.9%).