Informations Rapides · 30 June 2022 · n° 172

In May 2022 the industrial producer prices rose by 0.3% over a month and by 25.0% over a year Industrial Producer and Import Price Indices - May 2022

In May 2022, the industrial producer prices turned up slightly over a month (+0.3% after –0.2% in the previous month). Prices of products sold on the home market remained virtually stable (–0.1% after 0.0%), while those for the foreign markets bounced back (+1.2% after –0.3%). Over a year, the industrial producer prices kept rising strongly: +25.0% in May 2022 (as in the previous month).

In May 2022, the industrial producer prices for the home market remained virtually stable over a month (–0.1% after 0.0%): the fall of prices of mining and quarrying products, energy and water (–5.4% after –4.6%) was almost counterbalanced by the rise of manufactured product prices (+2.2% after +2.1%). Over a year, the industrial producer prices for the home market continued to rise sharply: +27.3% (after +27.9%).

In May 2022, the prices of mining and quarrying products, energy and water kept falling over a month (–5.4% after –4.6%) and decelerated slightly over a year (+50.9% after +58.6%). Electricity production and trade prices fall by 6.1% over a month (after –7.0%), especially on the wholesale market, and slowed down slightly over a year (+62.4% after +67.3%). In the wake of spot prices, those of trade services of gas through mains fell back over a month (–11.4% after +17.4%); over a year, they remained on a very strong upward trend (+147.9%) but slowed down compared to the previous month (+195.3% in April 2022).

In the wake of crude oil prices, the prices of refined petroleum products turned up in May 2022 over a month (+9.6% after –0.8%), reaching their highest level recorded since January 2005. Over a year, they accelerated (+124.0% after +111.1% in the previous month).

In May 2022, the food and beverage prices kept rising strongly over a month (+3.0%, after +3.3% in April 2022 and +3.5% in March 2022), reflecting the rise of commodity (particularly cereals) and energy prices, in a very tense international context (war in Ukraine, avian flu). The prices of oils and fats accelerated strongly (+20.5% after +5.4%), as did those of bread, fresh pastry goods and cakes (+2.8% after +0.2%). Prices of preserved meat and meat products slowed down (+3.4% after +5.7%) and those of prepared feeds for farm animals remained on a strong upward trend (+5.5% after +5.7%). Year on year, the rise of food and beverage prices kept accelerating, reaching 15.9% in May 2022 (after +13.1% in April 2022 and +10.1% in March 2022).

In May 2022, the prices of the “other industrial products” decelerated over a month (+1.2% after +2.6% in April 2022). They slowed down for all main product families: chemicals and chemical products (+2.7% after +4.7%), fabricated metal products (+1.1% after +2.3%), “other non-metallic mineral products” (+1.7% after +3.3%), rubber and plastics products (+1.6% after +3.5%), paper and paper products (+2.4% after +4.5%) and basic metals (+0.9% after +4.9%). Year on year, the prices of the “other industrial products” remained on a strong rise in May 2022 (+18.0% after +17.5% in the previous month).

In May 2022, the prices of transport equipment accelerated over a month (+0.8% after +0.2%), driven up by those of motor vehicles (+1.0% after a stability); over a year, they rose by 5.6% (after +5.0%).

At last, prices of electrical, computer and electronic equipment and machinery went up by 0.4% over a month (after +0.6%) and by 7.5% over a year (after +7.2%).

The industrial producer prices for the foreign markets bounced back in May 2022 over a month (+1.2% after –0.3%): manufactured product prices slowed down (+1.5% after +2.0%) while those of mining and quarrying products, energy and water (especially those of electricity) dropped, but to a lesser extent than in April. Over a year, the industrial producer prices for the foreign markets sped up slightly (+19.3% after +18.1%).

In May 2022, the prices of the “other industrial products” slowed down over a month (+1.2% after +3.4%), especially those of chemicals and chemical products (+1.8% after +5.7%) and of basic metals (+1.9% after +5.1%). Year on year, they rose by 19.3% (after +18.6%). Prices of refined petroleum products turned up over a month (+11.0% after –1.7%) and remained on a very strong upward trend over a year (+118.6% after +104.6%). Those of food and beverages continued to rise sharply over a month (+3.0% after +2.3%) and kept accelerating over a year (+18.8% after +15.4% in April 2022 and +13.3% in March 2022). Transport equipment prices accelerated slightly over a month (+1.0% after +0.6%) and over a year (+6.1% after +5.0%). At last, prices of electrical, computer and electronic equipment and machinery rose by 0.6% over a month (after +0.5%) and by 5.9% over a year (after +5.4%).

In May 2022, the import prices of industrial products turned up very slightly over a month (+0.2% after –1.5%). Prices of mining and quarrying products, energy and water kept falling, driven down by those of natural gas, while manufactured product prices decelerated (+0.8% after +1.8%). Over a year, the import prices of industrial products kept rising strongly (+30.3%), but at a more moderate pace than in the previous month (+32.1% in April 2022).

In May 2022, the prices of the “other industrial products” slowed down sharply over a month (+0.6% after +2.5%): those of chemicals and chemical products decelerated (+3.0% after +4.8%), while those of basic metals fell back slightly (–2.0% after +4.1%). Year on year, they rose by 17.8% (after +18.7%).

The prices of coke and refined petroleum products rose by 3.9% in May 2022 over a month (after +2.3%) but kept rising strongly over a year (+111.5% after +112.3%).

At last, the prices decelerated in May 2022 over a month for food, beverages and tobacco (+1.8% after +2.5% over a month; +16.9% over a year), transport equipment (+0.4% after +0.6% over a month; +3.7% over a year) and electrical, computer and electronic equipment and machinery (+0.3% after +0.6% over a month; +5.7% over a year).