Informations rapides
29 May 2020
2020- n° 136
Strong fall in producer prices in industry in April 2020 (–2.3%) Industrial Producer and Import Price Indices - April 2020

In April 2020, the fall in producer prices in French industry strengthened (–2.3% after –1.5% in March 2020), consequence of an economic slowdown in the context of the Covid-19 pandemic and in particularly of the declines in prices of petroleum products and energy (electricity, gas). It was the strongest one-month decline in the past 25 years. The fall was more pronounced on prices for the French market than on those for foreign markets. Year on year, the decrease in producer prices in French industry strengthened also (–3.9% after –2.0%).

Informations rapides
No 136
Paru le :Paru le29/05/2020
Prochaine parution le : 27/09/2024 at 08:45 - August 2024
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Warning

Given the lockdown of the population between 17 March and 10 May 2020, response rates for business survey about April 2020 (collected during May) are lower than usual. Therefore, the results presented here might be more revised than usually in the next publication, which will take into account the answers delivered late.

Total Industry price indices

Total Industry price indices
PPI for domestic market PPI for foreign markets PPI for all markets Import prices
2015-01 100.0 98.9 99.8 99.4
2015-02 101.0 100.1 100.8 101.0
2015-03 101.1 100.6 101.0 101.6
2015-04 100.8 101.1 100.9 102.2
2015-05 100.4 100.6 100.4 102.5
2015-06 100.5 100.7 100.6 102.0
2015-07 100.3 100.9 100.5 100.8
2015-08 99.2 99.8 99.4 99.3
2015-09 99.2 99.4 99.3 98.6
2015-10 99.4 99.5 99.4 98.1
2015-11 99.5 99.6 99.5 98.2
2015-12 98.4 98.9 98.5 96.5
2016-01 97.3 98.2 97.5 94.7
2016-02 96.9 97.2 96.9 94.1
2016-03 97.1 97.4 97.2 95.0
2016-04 96.5 97.4 96.7 95.0
2016-05 97.0 97.7 97.1 95.9
2016-06 97.4 98.0 97.5 96.4
2016-07 97.5 97.9 97.6 96.4
2016-08 97.4 97.9 97.5 96.2
2016-09 97.7 98.2 97.8 96.5
2016-10 98.4 98.9 98.5 97.5
2016-11 99.0 99.3 99.1 97.5
2016-12 99.8 100.2 99.9 99.1
2017-01 100.7 101.7 100.9 99.7
2017-02 100.5 100.9 100.6 100.0
2017-03 100.0 100.4 100.1 99.7
2017-04 99.7 100.4 99.8 99.6
2017-05 99.1 100.1 99.3 98.8
2017-06 98.8 99.4 99.0 97.9
2017-07 98.9 99.2 98.9 97.6
2017-08 99.4 99.1 99.3 98.2
2017-09 99.8 99.6 99.7 99.0
2017-10 100.0 100.2 100.1 99.4
2017-11 101.7 101.1 101.5 100.2
2017-12 102.0 100.9 101.7 100.2
2018-01 102.0 100.3 101.5 100.4
2018-02 102.0 100.6 101.7 99.9
2018-03 102.2 100.7 101.8 100.1
2018-04 101.4 100.6 101.2 100.6
2018-05 102.1 101.3 101.8 102.0
2018-06 102.1 102.0 102.1 102.4
2018-07 102.7 102.2 102.6 102.7
2018-08 103.1 102.3 102.9 102.8
2018-09 103.6 102.5 103.3 103.6
2018-10 103.9 103.0 103.7 104.6
2018-11 104.4 102.5 103.9 102.8
2018-12 103.4 101.8 103.0 101.1
2019-01 103.7 102.4 103.4 101.2
2019-02 104.2 101.9 103.5 101.9
2019-03 104.1 101.9 103.5 102.0
2019-04 103.2 102.5 103.1 102.6
2019-05 102.7 102.2 102.6 102.6
2019-06 102.1 101.7 102.0 101.3
2019-07 102.5 102.0 102.4 101.4
2019-08 102.6 101.8 102.4 100.8
2019-09 102.7 102.4 102.7 101.6
2019-10 102.5 102.4 102.5 101.5
2019-11 103.9 102.7 103.6 101.6
2019-12 104.0 102.9 103.7 101.9
2020-01 103.8 102.8 103.6 101.5
2020-02 103.0 102.5 102.9 100.5
2020-03 101.3 101.3 101.4 96.7
2020-04 98.4 100.5 99.1 94.2

Total Industry price indices

  • Source: INSEE.

Producer prices in French industry: –2.3%

In April 2020, the fall in producer prices in French industry strengthened (–2.3% after –1.5% in March 2020), consequence of an economic slowdown in the context of the Covid-19 pandemic and in particularly of the declines in prices of petroleum products and energy (electricity, gas). It was the strongest one-month decline in the past 25 years. The fall was more pronounced on prices for the French market than on those for foreign markets. Year on year, the decrease in producer prices in French industry strengthened also (–3.9% after –2.0%).

FRENCH MARKET: –2.9%

The French producer prices in industry for the French market kept declining strongly in April 2020 (–2.9% after –1.7%), driven down by the prices of mining and quarrying products, energy and water and, to a lesser extent, by those of manufactured products (–1.5% after –2.2%). Year on year, the French producer prices in industry for the French market plummeted in April 2020 (–4.7% after –2.7%).

Strong fall in prices of mining and quarrying products, energy and water

In April 2020, the prices of mining and quarrying products, energy and water declined strongly (–7.1% after a stability). The prices of electricity, gas, steam and air-conditioning supply plummeted (–8.8% after a stability), due notably to a reduced demand during the lockdown and to a seasonal fall in prices of electricity transmission and distribution services. Year on year, the prices of mining and quarrying products, energy and water decreased by 3.8% in April 2020 (after –1.9%).

New historic decline in refined petroleum product prices

In the wake of oil prices, the prices of refined petroleum products declined by 34.8% in April 2020 (after –35.3%), reaching their lowest level since August 1999. Year on year, they collapsed (–65.3% after –43.6%).

Producer price indices of coke and refined petroleum products sold on the French market

Producer price indices of coke and refined petroleum products sold on the French market
Producer price indices of coke and refined petroleum products sold on the French market
2015-01 91.2
2015-02 106.6
2015-03 110.2
2015-04 113.8
2015-05 117.9
2015-06 115.6
2015-07 107.6
2015-08 92.8
2015-09 91.3
2015-10 89.1
2015-11 89.4
2015-12 74.5
2016-01 65.9
2016-02 65.6
2016-03 75.5
2016-04 78.5
2016-05 88.1
2016-06 91.9
2016-07 85.3
2016-08 85.2
2016-09 87.6
2016-10 97.0
2016-11 91.7
2016-12 105.7
2017-01 107.1
2017-02 108.1
2017-03 101.4
2017-04 104.7
2017-05 97.1
2017-06 89.7
2017-07 92.1
2017-08 95.1
2017-09 101.8
2017-10 103.2
2017-11 111.1
2017-12 110.9
2018-01 116.1
2018-02 109.2
2018-03 111.3
2018-04 121.8
2018-05 132.1
2018-06 130.2
2018-07 131.4
2018-08 133.2
2018-09 136.5
2018-10 142.7
2018-11 125.8
2018-12 109.3
2019-01 109.4
2019-02 118.8
2019-03 123.3
2019-04 130.7
2019-05 131.3
2019-06 117.5
2019-07 122.3
2019-08 115.7
2019-09 121.5
2019-10 117.6
2019-11 117.0
2019-12 119.6
2020-01 117.8
2020-02 107.6
2020-03 69.6
2020-04 45.4

Producer price indices of coke and refined petroleum products sold on the French market

  • Source: INSEE.

New fall in prices of “other industrial products”

The prices of “other industrial products” fell by 0.7% in April 2020 (after –0.5%). They were mainly driven down by those of chemical products (–4.5% after –3.2%) following the collapse in oil prices. Year on year, the decline in prices of “other industrial products” strengthened in April 2020 (–2.7% after –1.9%).

Producer price indices of manufactured products sold on the French market

Producer price indices of manufactured products sold on the French market
C3 C5 C1 C4
2015-01 100.2 100.0 99.8 99.9
2015-02 100.2 99.9 99.9 99.9
2015-03 100.2 100.2 99.8 99.9
2015-04 100.2 100.6 99.9 99.9
2015-05 100.0 100.8 99.9 99.9
2015-06 100.0 100.8 99.9 99.8
2015-07 100.0 100.8 100.2 99.8
2015-08 99.6 100.2 100.5 100.0
2015-09 99.7 99.6 100.3 100.1
2015-10 100.0 99.2 100.2 100.3
2015-11 100.0 99.0 99.9 100.4
2015-12 99.9 98.8 99.7 100.1
2016-01 99.7 98.4 99.3 100.2
2016-02 99.5 98.1 99.1 100.1
2016-03 99.7 97.9 98.6 100.1
2016-04 99.6 98.0 98.5 100.1
2016-05 99.6 98.3 98.4 100.1
2016-06 99.9 98.6 98.5 100.0
2016-07 99.6 98.6 98.9 100.0
2016-08 99.7 98.5 98.8 99.9
2016-09 99.7 98.5 98.8 99.9
2016-10 99.6 98.7 99.1 100.0
2016-11 99.5 98.8 99.2 100.0
2016-12 99.4 99.0 99.2 100.1
2017-01 100.1 99.6 99.2 100.1
2017-02 99.9 100.1 99.6 100.1
2017-03 100.0 100.4 99.8 100.1
2017-04 99.9 100.7 100.1 100.2
2017-05 99.8 100.8 100.1 100.3
2017-06 99.9 100.7 100.4 100.3
2017-07 99.8 100.4 100.4 100.3
2017-08 99.7 100.5 100.6 100.4
2017-09 99.7 100.7 100.5 100.4
2017-10 99.8 101.0 100.4 100.4
2017-11 100.0 100.9 100.3 100.6
2017-12 100.1 101.1 100.4 100.6
2018-01 100.7 101.6 100.0 100.5
2018-02 100.3 101.9 100.1 100.5
2018-03 100.5 102.1 100.4 100.6
2018-04 100.6 102.2 100.1 100.6
2018-05 100.8 102.7 100.2 100.5
2018-06 100.9 102.8 100.1 100.6
2018-07 100.7 102.9 100.4 100.6
2018-08 100.9 103.0 100.6 100.6
2018-09 100.9 103.1 100.7 100.5
2018-10 100.8 103.0 100.7 100.7
2018-11 101.0 102.9 101.1 100.9
2018-12 101.0 102.6 101.4 101.0
2019-01 101.4 102.7 101.2 100.9
2019-02 101.3 102.8 101.2 101.0
2019-03 101.3 103.0 100.9 101.1
2019-04 101.5 103.1 101.0 101.2
2019-05 101.3 103.1 101.1 101.3
2019-06 101.3 102.8 101.3 101.4
2019-07 101.3 102.6 101.5 101.6
2019-08 101.4 102.6 101.6 101.6
2019-09 101.7 102.5 101.5 101.7
2019-10 101.8 102.3 101.8 102.1
2019-11 101.8 102.0 102.1 102.3
2019-12 101.8 101.9 102.5 102.7
2020-01 102.0 101.8 102.2 102.8
2020-02 102.3 101.5 102.1 102.9
2020-03 102.1 101.0 102.2 102.8
2020-04 102.1 100.3 102.1 102.9

Producer price indices of manufactured products sold on the French market

  • Source: INSEE.

FOREIGN MARKETS: –0.8%

In April 2020, the producer prices of French industrial products for foreign markets declined by 0.8% (after –1.2% in March 2020), driven down by export manufactured product prices (–0.5% after –1.1%) and, to a lesser extent, by those in mining and quarrying products, energy and water.

The export prices of refined petroleum products kept declining strongly (–39.8% after –29.6%). On the contrary, the transport equipment export prices recovered (+1.2% after –1.1%), due in particular to the appreciation of the dollar against the euro.

Year on year, the producer prices of French industrial products for foreign markets declined by 2.0% in April 2020 (after –0.6%).

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

reference year: 2015
French Producer Price Indices in industry according to the market where the products are sold (reference year: 2015)
Change in %
Levels A 10 and A 17 in CPF rev. 2 Weight April 20 In 1 month In 1 year
French market
BE:TOTAL INDUSTRY 1000 98.4 -2.9 -4.7
(DE) Mining and quarrying, energy, water 228 98.5 -7.1 -3.8
CZ: Manufactured products 772 98.5 -1.5 -4.8
   (C1) Food products, beverages, tobacco 194 102.1 -0.1 1.1
   (C2) Coke and refined petroleum products 38 45.4 -34.8 -65.3
   (C3) Electrical & electronic equip., computers, mach. 78 102.1 0.0 0.6
   (C4) Transport equipment 100 102.9 0.1 1.7
   (C5) Other manufactured products 362 100.3 -0.7 -2.7
Foreign markets
BE:TOTAL INDUSTRY 1000 100.5 -0.8 -2.0
CZ: Manufactured products 979 101.1 -0.5 -1.3
   (C1) Food products, beverages, tobacco 105 103.9 0.1 2.0
   (C2) Coke and refined petroleum products 22 42.8 -39.8 -65.2
   (C3) Electrical & electronic equip., computers, mach. 124 101 0.0 0.3
   (C4) Transport equipment 295 108.3 1.2 4.9
   (C5) Other manufactured products 433 98.3 -0.6 -2.9
All markets
BE:TOTAL INDUSTRY 1000 99.1 -2.3 -3.9
CZ: Manufactured products 833 99.4 -1.2 -3.7
   (C1) Food products, beverages, tobacco 168 102.4 -0.1 1.3
   (C2) Coke and refined petroleum products 33 44.7 -35.7 -65.2
   (C3) Electrical & electronic equip., computers, mach. 92 101.6 0.0 0.5
   (C4) Transport equipment 157 105.8 0.7 3.5
   (C5) Other manufactured products 383 99.7 -0.6 -2.8
  • Source: INSEE.

Import price indices of industrial products: –2.6%

In April 2020, the import prices of industrial products kept declining sharply (–2.6% after –3.8%), reaching their lowest level since February 2016. They were driven down by the import prices of unrefined hydrocarbons and by those of manufactured products (–1.0% after –1.9%).

In the wake of oil prices, the import prices for coke and refined petroleum products kept collapsing over one month (–29.7% after –37.6%) and even more over one year (–62.1% after –43.7%).

Year on year, the import prices of industrial products fell drastically in April 2020 (–8.2% after –5.2%).

Import prices of industrial products

reference year: 2015
Import prices of industrial products (reference year: 2015)
Change in %
Levels A 10 and A 17 in CPF rev. 2 Weight April 20 In 1 month In 1 year
BE:TOTAL INDUSTRY 1000 94.2 -2.6 -8.2
CZ: Manufactured products s 98.1 -1.0 -3.4
   (C1) Food products, beverages, tobacco 74 101.7 -0.7 -1.6
   (C2) Coke and refined petroleum products 36 47.3 -29.7 -62.1
   (C3) Electrical & electronic equip., computers, mach. 226 98.6 0.0 -0.1
   (C4) Transport equipment 186 101.6 -0.1 0.8
   (C5) Other manufactured products s 99.7 -0.4 -1.2
  • s: confidential
  • Source: INSEE.

Revision of variations

In %
Revision of variations (In %)
Jan. 20 / Dec. 19 Feb. 20 / Jan. 20 Mar. 20 / Feb. 20
French producer prices in industry sold on:
   - the French market -0.1 +0.1 //
   - the foreign markets +0.1 +0.1 -0.2
   - all markets // // +0.1
Import prices of industrial products // // //
  • (1) How to read it: the variation of the producer price index in industry for products sold on the French Market between February and March 2020 is unchanged: -1.7% as it was published in April 2020.

For further information

Next publication: 30 June 2020 at 8.45 a.m.

Documentation

Producer and Import Price Index in Industry

Aggregated classification - NA, 2008

French classification of products - CPF Rev. 2.1, 2015

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Next publication: 30 June 2020 at 8.45 a.m.

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