Insee conjoncture
21 février 2019
N° 2019-46

In January, oil prices decreased anewPrices of oil and raw material imports - January 2019

In Januray 2019, the price of oil in euros recovered (+4,3% after −12.0% in December). The prices in euros of imported commodities (excluding energy) bounced back too (+0,9% after −2.3%), as those of raw food materials (+1,7% after −2.1%). The prices of industrial raw materials are almost unchanged (−0,1% after −2,6%).

Informations rapides
No 46
Paru le : 21/02/2019
Warning :

The weight of each commodity in agregated indices has been updated, depending on their share in 2018 imports.

In Januray 2019, the price of oil in euros recovered (+4,3% after −12.0% in December). The prices in euros of imported commodities (excluding energy) bounced back too (+0,9% after −2.3%), as those of raw food materials (+1,7% after −2.1%). The prices of industrial raw materials are almost unchanged (−0,1% after −2,6%).

Imported raw materials (excluding energy)

index 2000=100
Imported raw materials (excluding energy) (index 2000=100)
Prices in foreign currencies Prices in euros
2013-01 106.6 106.6
2013-02 107.9 107.3
2013-03 104.8 107.1
2013-04 103.7 105.6
2013-05 102.4 104.5
2013-06 99.9 100.5
2013-07 102.1 103.4
2013-08 102.8 102.5
2013-09 100.0 99.5
2013-10 100.4 98.0
2013-11 100.9 99.4
2013-12 103.5 100.7
2014-01 102.8 100.4
2014-02 103.2 100.5
2014-03 104.8 100.9
2014-04 106.5 102.7
2014-05 103.3 100.1
2014-06 101.0 98.8
2014-07 103.0 101.1
2014-08 101.8 101.5
2014-09 98.0 100.7
2014-10 96.2 100.4
2014-11 95.7 101.3
2014-12 93.3 99.7
2015-01 89.6 101.1
2015-02 86.8 100.2
2015-03 83.9 101.4
2015-04 82.6 100.4
2015-05 84.1 98.7
2015-06 83.3 97.4
2015-07 80.4 95.7
2015-08 79.1 92.9
2015-09 78.1 91.0
2015-10 77.4 90.0
2015-11 74.4 90.3
2015-12 72.9 87.5
2016-01 72.3 87.0
2016-02 74.3 87.5
2016-03 77.7 91.5
2016-04 80.4 92.7
2016-05 80.0 92.4
2016-06 82.1 95.6
2016-07 84.4 99.7
2016-08 84.1 98.0
2016-09 83.0 96.7
2016-10 83.7 99.2
2016-11 89.2 107.8
2016-12 90.2 111.6
2017-01 92.0 113.2
2017-02 95.1 116.6
2017-03 94.4 115.5
2017-04 89.9 109.6
2017-05 88.9 105.2
2017-06 88.6 103.2
2017-07 91.8 104.2
2017-08 93.0 103.0
2017-09 91.2 100.0
2017-10 89.4 99.3
2017-11 90.1 100.4
2017-12 90.4 99.8
2018-01 93.5 100.3
2018-02 94.9 100.6
2018-03 94.0 99.7
2018-04 93.8 99.9
2018-05 95.2 105.3
2018-06 94.8 106.2
2018-07 90.7 101.4
2018-08 87.9 99.5
2018-09 86.6 97.1
2018-10 89.7 101.8
2018-11 88.9 101.9
2018-12 87.0 99.5
2019-01 88.0 100.4

Imported raw materials (excluding energy)

Oil prices recovered

In January 2019, the price of North Sea crude oil (Brent) in euros recovered (+4,3% after −12.0% in December) to an average of €52 per barrel. In dollars, the increase was of almost the same magnitude (+5,1% after −12.3%).

Oil (Brent)

price per barrel
Oil (Brent) (price per barrel)
Prices in dollars Prices in euros
2013-01 112.0 84.3
2013-02 116.4 87.1
2013-03 109.7 84.6
2013-04 103.8 79.5
2013-05 103.0 79.4
2013-06 102.8 78.0
2013-07 107.7 82.3
2013-08 110.1 82.8
2013-09 111.6 83.6
2013-10 109.4 80.2
2013-11 107.7 79.9
2013-12 110.7 80.7
2014-01 107.6 79.0
2014-02 108.7 79.6
2014-03 107.9 78.0
2014-04 108.0 78.1
2014-05 109.2 79.6
2014-06 111.9 82.3
2014-07 108.6 80.2
2014-08 103.5 77.7
2014-09 98.9 76.7
2014-10 88.7 70.0
2014-11 80.8 64.8
2014-12 64.2 52.2
2015-01 50.1 43.1
2015-02 58.2 51.3
2015-03 57.3 52.8
2015-04 59.5 55.4
2015-05 64.1 57.5
2015-06 61.5 54.8
2015-07 56.6 51.4
2015-08 46.6 41.9
2015-09 47.6 42.4
2015-10 48.4 43.1
2015-11 44.3 41.2
2015-12 38.0 35.0
2016-01 30.7 28.3
2016-02 32.2 29.0
2016-03 38.2 34.4
2016-04 41.6 36.7
2016-05 46.7 41.3
2016-06 48.2 43.0
2016-07 45.3 41.0
2016-08 46.8 41.8
2016-09 47.7 42.5
2016-10 51.4 46.6
2016-11 47.1 43.7
2016-12 54.9 52.1
2017-01 55.4 52.2
2017-02 56.0 52.6
2017-03 52.6 49.2
2017-04 53.8 50.1
2017-05 51.4 46.5
2017-06 47.6 42.4
2017-07 49.1 42.6
2017-08 51.9 44.0
2017-09 55.5 46.6
2017-10 57.5 48.9
2017-11 62.7 53.4
2017-12 64.4 54.4
2018-01 69.1 56.6
2018-02 65.3 52.9
2018-03 66.0 53.5
2018-04 72.0 58.7
2018-05 76.9 65.2
2018-06 74.4 63.7
2018-07 74.3 63.5
2018-08 72.5 62.8
2018-09 78.9 67.7
2018-10 81.0 70.6
2018-11 64.7 57.0
2018-12 56.5 49.8
2019-01 59.3 52.0

Oil (Brent)

Oil and petroleum products

Oil and petroleum products
Prices Change (%)
of last month over the last month over the last 3 months over the last 12 months
Brent in $ per barrel 59,3 5,1 -26,8 -14,1
Brent in € per barrel 52 4,3 -26,3 -8,2
Gasoline cts €/L 33,1 -2,9 -29,1 -19,7
Gas Oil 489,8 1,9 -22,1 -2,4
Heavy fuel 330,7 1,6 -23,1 1,8
Naphtha 401,7 -2,1 -31,9 -17,4

Industrial commodity prices were almost unchanged

In January 2018, the prices of industrial raw materials prices were pratically stable (−0,1% after −2.6% in December). The prices of minerals materials recovered slightly (+0,4% after −2.7%), largely due to ferrous metals (+9,2% after −5.7%). The prices of precious metals increased again (+4,0% after +2.2%) while the decrease in non-ferrous metals prices rose (−2,8% after −0.9 %). The prices of agricultural raw materials decreased again (−1.8% after −1.8%), because of wood pulp (−2.8% after −1.8%), natural fibres (−4,3% after −0.2%) and hide(−8,5% after −0.4%). The prices of tropical wood bounced back (−1.8% after +0.1%) as well as sawn softwood (−5.2% after −5.8%). The price of natural rubber accelerated (+1.9% after −5.8%).

Industrial raw materials

index 2000=100
Industrial raw materials (index 2000=100)
Prices in foreign currencies Prices in euros
2013-01 103.0 103.0
2013-02 104.8 104.0
2013-03 98.5 100.8
2013-04 95.3 97.1
2013-05 90.4 92.4
2013-06 86.5 87.0
2013-07 89.0 90.2
2013-08 93.3 92.9
2013-09 92.1 91.5
2013-10 92.5 90.0
2013-11 93.3 91.6
2013-12 93.3 90.2
2014-01 91.5 89.0
2014-02 89.2 86.5
2014-03 86.7 83.0
2014-04 88.4 84.7
2014-05 85.1 82.2
2014-06 83.6 81.4
2014-07 86.8 84.9
2014-08 86.5 86.0
2014-09 82.8 85.0
2014-10 80.7 84.3
2014-11 79.5 84.4
2014-12 76.3 81.7
2015-01 72.3 82.2
2015-02 70.0 81.5
2015-03 67.6 82.3
2015-04 66.0 80.9
2015-05 69.1 81.6
2015-06 67.7 79.7
2015-07 62.5 74.9
2015-08 61.1 72.2
2015-09 61.4 72.0
2015-10 59.9 70.1
2015-11 55.8 68.3
2015-12 53.7 64.9
2016-01 53.1 64.3
2016-02 55.9 66.3
2016-03 60.4 71.7
2016-04 62.7 72.9
2016-05 60.7 70.7
2016-06 60.2 70.5
2016-07 63.6 75.7
2016-08 65.0 76.4
2016-09 63.2 74.2
2016-10 64.4 76.8
2016-11 71.7 87.3
2016-12 74.8 93.2
2017-01 75.1 93.0
2017-02 80.1 98.9
2017-03 79.4 97.6
2017-04 73.9 90.7
2017-05 70.4 83.8
2017-06 68.6 80.4
2017-07 73.1 83.6
2017-08 78.3 87.4
2017-09 78.4 86.6
2017-10 76.3 85.4
2017-11 77.6 87.1
2017-12 79.7 88.7
2018-01 83.9 90.7
2018-02 84.7 90.3
2018-03 80.7 86.2
2018-04 80.8 86.8
2018-05 82.0 91.4
2018-06 81.7 92.2
2018-07 77.8 87.7
2018-08 76.8 87.6
2018-09 76.2 86.1
2018-10 77.9 89.3
2018-11 76.8 88.9
2018-12 74.9 86.6
2019-01 75.0 86.5

Industrial raw materials

Food commodity prices recovered

In euros, the prices of raw food materials recovered (+1.7% after −2.1%). The prices of cereals increased again (+0.7% after +1.5%).The prices of meats bounced back (+4,0% after −0.4%), as those of tropical foodstuffs (+2,0% after −5.2%), seafood products (+0.6% after −1.9%) and sugar (+0,5% after −2.0%) . The price of oil seeds and vegetable oils remained steady (0,0% after −1.7%).

Food

index 2000=100
Food (index 2000=100)
Prices in foreign currencies Prices in euros
2013-01 111.4 111.5
2013-02 112.2 111.8
2013-03 112.9 115.2
2013-04 114.5 116.4
2013-05 117.7 120.0
2013-06 117.0 117.8
2013-07 118.6 120.2
2013-08 114.8 114.8
2013-09 110.2 109.8
2013-10 110.6 108.3
2013-11 110.6 109.4
2013-12 116.5 114.1
2014-01 117.0 114.8
2014-02 120.6 118.0
2014-03 127.3 123.3
2014-04 129.2 125.2
2014-05 125.9 122.4
2014-06 122.7 120.4
2014-07 123.1 121.3
2014-08 121.0 120.9
2014-09 117.1 120.2
2014-10 115.6 120.6
2014-11 115.8 122.4
2014-12 114.4 122.0
2015-01 111.4 125.0
2015-02 108.1 123.8
2015-03 104.6 125.5
2015-04 103.6 125.1
2015-05 102.9 120.1
2015-06 102.9 119.7
2015-07 103.4 122.3
2015-08 102.3 119.5
2015-09 99.4 115.3
2015-10 99.7 115.4
2015-11 98.3 118.6
2015-12 97.7 116.6
2016-01 97.6 116.9
2016-02 98.3 115.2
2016-03 99.9 117.0
2016-04 103.1 118.2
2016-05 105.1 120.5
2016-06 111.1 128.5
2016-07 111.5 131.1
2016-08 108.8 125.9
2016-09 108.7 125.9
2016-10 108.8 128.2
2016-11 111.3 133.5
2016-12 109.1 134.3
2017-01 113.5 139.0
2017-02 113.8 138.9
2017-03 113.3 137.9
2017-04 110.3 133.6
2017-05 112.7 132.6
2017-06 114.5 132.6
2017-07 115.7 130.6
2017-08 111.4 122.8
2017-09 107.1 116.7
2017-10 105.7 116.8
2017-11 105.7 117.0
2017-12 103.4 113.5
2018-01 104.8 111.8
2018-02 107.2 113.0
2018-03 110.5 116.5
2018-04 109.8 116.3
2018-05 111.5 122.5
2018-06 111.1 123.6
2018-07 106.6 118.5
2018-08 101.4 114.1
2018-09 99.2 110.5
2018-10 104.3 117.3
2018-11 103.8 118.0
2018-12 101.9 115.5
2019-01 103.8 117.4

Food

Imported raw materials (excluding energy) in euros

base 100 in 2010
Imported raw materials (excluding energy) in euros (base 100 in 2010)
Changes (in %)
Index of last month over the last month over the last 3 months over the last 12 months
Food total 117,4 1,7 0,1 5,1
Tropical foodstuffs 92,3 2 -3,1 1,4
Oil seeds, vegetable oils 100,9 0 -1 -7,3
Cereals 99,7 0,7 0,9 7,5
Sugar 66,2 0,5 -3,4 -3,3
Meat 148,7 4 5,2 11,3
Seafood products 124,2 0,6 -0,8 14
Industrial raw materials 86,5 -0,1 -3,1 -4,6
Agricultural raw materials 115,7 -1,8 -2,9 -0,4
Natural Fibres 101,7 -4,3 -5,3 1,4
Natural rubber 47 6,9 2,7 -4,2
Hides 62,2 -8,5 -11,4 -23
Wood pulp 147 -2,8 -3,3 22,7
Tropical wood 96 1,3 -0,4 -0,2
Sawn softwood 152,5 4,2 4,5 -27,6
Minerals 81 0,4 -3,1 -5,4
Ferrous metals 62,6 9,2 4,1 6,6
Non-ferrous metals 96,1 -2,8 -6,2 -11,5
Precious metals 109,3 4 7,5 2,3
All commodities 100,4 0,9 -1,4 0,1
  • Source: INSEE

Encadré

For more information-

- Crude oil: from 1986, the price of Brent gradually established as a representative reference price of European supplies.

- Petroleum products: prices of petroleum are quotations from the Rotterdam market which supplies European market.

- Indices of non-energy raw materials imported by France: the indices calculated by INSEE are monthly averages of raw materials prices, weighted by their share in the French imports of raw materials (2000 = 100).

Additional data (time series, methods, etc.) and a support for time series are available on the bottom of this page

Next issue: 20 March 2019 at 12.00 pm


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