Informations Rapides · 30 November 2023 · n° 305

In October 2023 the industrial producer prices were unchanged over a month and went down over a year (-1.4%) Industrial Producer and Import Price Indices - October 2023

In October 2023, the overall producer prices in the French industry were unchanged over a month (0.0% after +0.7% in September). Prices were almost unchanged for products sold on the home market (0.0% after +0.6% in the previous month) and for those intended for foreign markets (-0.1% after +0.6%). Over a year, the industrial producer prices continued to go down (-1.4% after -2.6%).

Excluding energy, the producer prices in the French industry fell back over a month(-0.2% in October 2023 after +0.2% in September) and decelerated over a year (+0.6% after +1.2%).

In October 2023, the producer prices in the French industry for the home market were unchanged over a month (after +0.6% in September). Prices of mining and quarrying products, energy and water accelerated (+1.9% after +1.5%) while those of manufactured products fell back (-0.9% after +0.4%). Over a year, the producer prices in the French industry for the home market fell again (-1.2% after -1.5% in September). They were 29% above their 2021 average level.

In October 2023, the prices of mining and quarrying products, energy and water sped up over a month (+1.9% after +1.5%), driven by prices of production and trade of electricity (+2.9% after +1.2%). Over a year, the prices of mining and quarrying products, energy and water fell again (-1.1% after -6.7%). They were 55% above their 2021 average level.

In the wake of oil prices, the prices of refined petroleum products went down markedly over a month (-8.8% in October after +8.1% in September). They dropped over a year for the seventh consecutive month (-22.5% after -5.2%) but were still 60% above their 2021 average level.

In October 2023, food and beverage prices kept going down over a month for the sixth consecutive month (-0.5%, as in September) in particular due to the fall of processed and preserved meat prices (-1.3% after -2.0%), as demand was low relative to supply. Prices of prepared pet foods fell back markedly (-7.3% after +0.3% in September) in line with the fall in raw material costs; they returned to their early 2022 levels.

Over a year, food and beverage prices decelerated but their rise remained significant (+3.6% after +5.5%). They were 26% above their 2021 average level.

In October 2023, transport equipment prices went down again over a month (-0.5% after -0.2% in September) due to the fall in motor vehicle prices (-1.0% after -0.2%). However, they continued to rise strongly over a year (+4.0% after +6.1%) and were 15% above their 2021 average level.

In October 2023, the prices of the “other industrial products” were almost unchanged over a month (-0.1% after -0.2% in September). Prices for metal structures and parts of structures fell back (-2.0% after +1.6%), as did those for installation of industrial machinery and equipment (-1.3% after +1.0%), as producers passed on the fall in raw material prices. Conversely, prices for “other organic basic chemicals” rose again (+1.9% after +2.2%).

Over a year, the prices of “other industrial products” kept going down (-2.4% in October after -2.1% in September). They stood 15% above their 2021 average level.

In October 2023, the prices of electrical, computer and electronic equipment and machinery rose over a month (+0.3% after +0.4% in the previous month). Those for wiring devices accelerated (+6.4% after +1.2%), as suppliers took into account increases in input costs. Over a year, the prices of electrical, computer and electronic equipment and machinery kept rising (+4.5% after +4.7%) and stood 14% above their 2021 average level.

In October 2023, the industrial producer prices for the foreign markets were almost unchanged (-0.1% over a month after +0.6%). The prices of manufactured products went down by 0.2% (after +0.8% in September) whereas those of mining and quarrying products, energy and water rose. Prices of refined petroleum products fell back significantly (-7.3% after +2.8%).

Over a year, the producer prices in the French industry for the foreign markets went down for the seventh consecutive month (-2.3% after -5.7% in the previous month). They stood 15% above their 2021 average level.

In October 2023, the import prices of industrial products decelerated (+0.2% after +1.5% in September). Those of mining and quarrying products, energy and water rose, in particular those of natural gas. Prices of manufactured products were almost unchanged (-0.1% after +0.6%). Prices of coke and refined petroleum products fell back (-5.3% after +7.8%). Those of transport equipment slightly accelerated (+1.1% after +0.5%), driven by those of motor vehicles (+2.7% after a stability in September), which accelerated due to a high demand.

Over a year, import prices of industrial products kept falling for the eighth consecutive month (-6.7% after -8.1% in September). However, they were 15% above their 2021 average level.

The monthly variation of the producer price index in the French industry in September 2023 is unchanged: it stands at +0.7%.