Informations Rapides · 31 August 2022 · n° 225

In July 2022 the industrial producer prices rose by 2.0% over a month and by 25.9% over a year Industrial Producer and Import Price Indices - July 2022

In July 2022, the industrial producer prices accelerated over a month (+2.0% after +1.5% in the previous month), both for products intended for the French market (+1.6% after +1.3%) and for those sold on the foreign markets (+3.0% after +2.2%). Over a year, the industrial producer prices kept rising strongly: +25.9% in July 2022 (after +25.2%).

In July 2022, the industrial producer prices for the home market rose by 1.6% over a month (after +1.3% in the previous month): those of mining and quarrying products, energy and water set off sharply by 7.0% (after –0.2%) while the prices of manufactured products fell back (–0.5% after +2.0%). Over a year, the industrial producer prices for the home market remained strong: +27.2% (as in June and in May).

In July 2022, the prices of mining and quarrying products, energy and water rose by 7.0% over a month (after –0.2% in June 2022) and accelerated over a year (+51.7% after +46.5%). Electricity production and trade prices sped up (+10.6% after +0.7%) while those of trade services of gas through mains sharply rebounded (+9.4%) after two consecutive months of decrease (–0.7% in June and –12.6% in May).

In the wake of crude oil prices, the prices of refined petroleum products fell back in July 2022 over a month (–11.6% after +13.0%) and decelerated over a year (+99.1% after +135.1%).

In July 2022, the food and beverage prices kept rising over a month (+1.6% after +1.4%) due to the rise in the cost of raw materials (in particular milk). Prices accelerated sharply for the dairy and cheese products (+3.9% after +1.9%) and remained on a strong upward trend for meat and meat products (+1.9% after +2.1%) whereas they slowed down for bread, fresh pastry goods and cakes (+0.9% after +2.3%). On the contrary, those of oils and fats continued their fall (–0.8% after –1.8%). Over a year, the rise of food and beverage prices kept growing, reaching 18.2% in July 2022 (after +16.7% in June 2022 and +15.1% in May 2022).

In July 2022, the prices of the “other industrial products” kept decelerating over a month (+0.4% after +0.5% in June, +1.2% in May and +2.7% in April 2022). They rose up for paper and paper products (+2.0% after +1.8%) and repair and installation services of machinery and equipment (+0.6% after +0.1%) and fell back slightly for chemicals and chemical products (–0.6% after +1.5%). Year-over-year, the prices of the “other industrial products” remained on a strong rise in July 2022 (+16.6% after +17.8% in the previous month).

In July 2022, transport equipment prices were up by 0.9% over a month (after +0.8%), driven up by those of motor vehicles (+1.5% after +1.2%); over a year, they rose by 6.7% (after +6.3%).

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 +7.7%).

In July 2022, the industrial producer prices for the foreign markets accelerated over a month (+3.0% after +2.2%), driven strongly by those of electricity, while those of manufactured products slowed down markedly (+0.2% after +0.9%). Over a year, the industrial producer prices for the foreign markets also accelerated (+22.8% after +20.4% in the previous month).

In the wake of crude oil prices, prices of refined petroleum products fell back over a month (–16.1% after +12.3%) and decelerated sharply over a year (+80.3% after +130.4%). On the contrary, prices of transport equipment accelerated strongly over a month (+2.0% after +0.3%) in particular due to the euro depreciation against the dollar, as those of food and beverages (+2.5% after +1.3%), driven by those of dairy and cheese products (+4.6% after +3.1%) and starches and starch products (+8.1% after +0.8%). The “other industrial products” price rise remained moderate over a month (+0.2% after +0.3%) but strong over a year (+18.3% after +18.8%). At last, prices of electrical, computer and electronic equipment and machinery went up by 0.6% over a month (after +0.4%) and by 6.4% over a year (after +5.9%).

In July 2022, the import prices of industrial products went up by 0.4% over a month (as in June and in May 2022): prices of mining and quarrying products, energy and water (especially those of natural gas) were in a strong rise while those of manufactured products fell back (–0.4% after +0.9%). Over a year, the import prices of industrial products kept rising strongly (+27.1%), but slightly less than in the previous month (+29.4% in June 2022).

In connection with changes in world oil prices, prices of coke and refined petroleum products fell back strongly over a month (–7.0% after +12.8%) and slowed down over a year (+99.1% after +123.8%). Those of prices of electrical, computer and electronic equipment and machinery went up over a month (+1.0% after +0.1%) and accelerated slightly over a year (+6.4% after +5.6%). Transport equipment prices fell by 0.4% over a month, after +0.4%; over a year, they went up (+3.3% after +3.9%). At last, prices of the “other industrial products” were almost unchanged over a month (+0.1% after –0.4%) and slowed down over a year (+14.8% after +16.8%), as did those of food, beverages and tobacco products (–0.1% after –0.3% over a month; +15.5% over a year after +15.8%).