Informations Rapides · 22 December 2023 · n° 333

In November 2023 the industrial producer prices rose by 1.5% over a month and went down by 0.5% over a year Industrial Producer and Import Price Indices - November 2023

In November 2023, the overall producer prices in the French industry rose markedly over a month (+1.5% after -0.1% in October) due to the rise in electricity prices. Prices of products sold on the home market rose sharply (+2.4% after a virtual stability in the previous month), while those intended for foreign markets went down (-0.6% after -0.1%). Over a year, the industrial producer prices fell for the fifth consecutive month (-0.5% after -1.5%).

Excluding energy, the producer prices in the French industry went down over a month(-0.5% in November 2023 after -0.1% in October) and were almost unchanged over a year (+0.1% after +0.6%).

In November 2023, the producer prices in the French industry for the home market rose significantly over a month (+2.4% after -0.1% in October). Prices of mining and quarrying products, energy and water accelerated markedly (+9.8% after +1.7%) while those of manufactured products fell again (-0.9%, as in October). Over a year, the producer prices in the French industry for the home market rebounded slightly (+0.3% after -1.4% in October and -1.5% in September). They were 32% above their 2021 average level.

In November 2023, the prices of mining and quarrying products, energy and water sped up strongly over a month (+9.8% after +1.7%), driven up by the prices of production and trade of electricity (+6.8% after +2.5%) as well as the important seasonal rise in electricity distribution prices with the switch to winter rates. Over a year, the prices of mining and quarrying products, energy and water rebounded (+4.2% after -1.3%). They were around 71% above their 2021 average level.

In the wake of oil prices, the prices of refined petroleum products went down again sharply over a month (-8.0% in November after -8.8% in October). They dropped over a year for the ninth consecutive month (-18.2% after -22.4%) but were still around 47% above their 2021 average level.

In November 2023, the prices of the “other industrial products” were down over a month (-0.5% after -0.1% in October). Prices for “other organic basic chemicals” fell back (-3.4% after +1.5%), as did those of industrial gases (-7.6% after +6.3%), because producers were passing on the fall in raw material prices. Prices for metal structures and parts of structures fell again (-3.1% after -2.0%).

Over a year, the prices of “other industrial products” kept going down for the seventh consecutive month (-2.8% in November after -2.4% in October). They stood around 14% above their 2021 average level.

In November 2023, food and beverage prices kept going down over a month for the seventh consecutive month (-0.4% after -0.5% in October) in particular due to the fall of processed and preserved meat prices (-1.3%, as in October), as demand was low relative to supply. Prices of oils and fats fell also (-3.0% after -0.9% in October) in line with an abundant sunflower supply.

Over a year, food and beverage prices decelerated (+2.4% after +3.6%). They were around 26% above their 2021 average level.

In November 2023, transport equipment prices went down again over a month (-0.6% after -0.4% in October) due to the fall in motor vehicle prices (-0.9% after -1.0%). However, they continued to rise over a year (+1.7% after +4.2%) and were around 14% above their 2021 average level.

In November 2023, the prices of electrical, computer and electronic equipment and machinery fell back over a month (-0.3% after +0.3% in the previous month). Those for wiring devices fell back markedly (-8.8% after +8.7%), as suppliers took into account falls in raw materials and input costs. Over a year, the prices of electrical, computer and electronic equipment and machinery kept rising (+3.4% after +4.0%) and stood around 13% above their 2021 average level.

In November 2023, the industrial producer prices for the foreign markets went down over a month (-0.6% after -0.1%). The prices of manufactured products fell by 0.7% (after -0.2% in October) whereas those of mining and quarrying products, energy and water rose. Prices of refined petroleum products continued to fall back significantly (-7.2% after -7.3%).

Over a year, the producer prices in the French industry for the foreign markets went down for the eighth consecutive month (-2.8% after -2.3% in the previous month). They stood 14% above their 2021 average level.

In November 2023, the import prices of industrial products fell back (-1.0% after +0.3% in October). Those of mining and quarrying products, energy and water went down, in particular those of extraction of crude petroleum, as well as those of manufactured products (-0.8% after +0.1%). Prices of coke and refined petroleum products were down again (-7.8% after -4.4%). Those of the “other industrial products” fell back (-0.7% after +0.3%), in particular underwear prices (-4.3% after +2.2%), due to lower raw material costs.

Over a year, import prices of industrial products kept falling for the ninth consecutive month (-7.0% after -6.6% in October). However, they were around 14% above their 2021 average level.

The monthly variation of the producer price index in the French industry in October 2023 has been revised downwards by 0.1 points compared to the previous release, due to late responses: it stands at -0.1%.