Informations Rapides · 31 January 2024 · n° 26

In December 2023 the industrial producer prices went down by 0.2% over a month and by 1.8% over a year Industrial Producer and Import Price Indices - December 2023

In December 2023, the overall producer prices in the French industry fell back slightly over a month (-0.2% after +1.5% in November). Prices of products sold on the home market were almost unchanged (+0.1% after +2.3% in the previous month), those intended for foreign markets went down again (-1.0% after -0.7%). Over a year, the industrial producer prices fell again (-1.8% after -0.5%).

Excluding energy, the producer prices in the French industry went down over a month(-0.2% in December 2023 after -0.4% in November) and were almost unchanged over a year (+0.1% after +0.2%).

In December 2023, the producer prices in the French industry for the home market were almost unchanged over a month (+0.1% after +2.3% in November). Prices of mining and quarrying products, energy and water decelerated markedly (+1.4% after +9.3%) while those of manufactured products fell for the third consecutive month (-0.6% after -0.7% in November and -0.9% in October). Over a year, the producer prices in the French industry for the home market fell back (-0.9% after +0.3% in November and -1.3% in October). They were 32% above their 2021 average level.

In December 2023, the prices of mining and quarrying products, energy and water slowed down markedly over a month (+1.4% after +9.3%). Prices of production and trade of electricity decelerated (+2.5% after +5.8%), those of recovery of sorted materials fell back (-1.2% after +0.4%) as a result of lower costs for “other non-ferrous metals” and paper-cardboard. Over a year, the prices of mining and quarrying products, energy and water fell back (-0.9% after +3.6%) but were however 72% above their 2021 average level.

In the wake of oil prices, the prices of refined petroleum products went down again sharply over a month (-7.3% in December after -6.1% in November). Over a year, they dropped for the tenth consecutive month (-11.2% after -16.1%) but were still 40% above their 2021 average level.

In December 2023, the prices of the “other industrial products” were down again over a month (-0.3% after -0.2% in November). Prices for “other organic basic chemicals” fell markedly (-4.7% after -0.3%) linked to the drop in oil prices; those of “other plastic products” went also down markedly (-3.4% after -2.0%), due to lower prices for seasonal products (coolers, parasol stands).

Over a year, the prices of the “other industrial products” kept going down for the eighth consecutive month (-2.2% in December after -2.4% in November). They stood 14% above their 2021 average level.

In December 2023, food and beverage prices rebounded slightly over a month, after seven consecutive months of fall (+0.2% after -0.5% in November); they were driven in particular by the rise of processed and preserved meat prices (+0.7% after -1.3%), as demand was high during the festive season. Prices for bread, fresh pastry goods and cakes fell by 0.4%, after -0.2% in November, due to lower cereal prices. Over a year, food and beverage prices continued to rise (+2.5% after +2.4%). They were around 26% above their 2021 average level.

In December 2023, transport equipment prices went down again over a month (-0.3%, as in November) due to the fall in motor vehicle prices (-0.8% after -0.4%). Over a year they fell for the first time since January 2017 (-0.2% after +1.8%), but were however 14% above their 2021 average level.

In December 2023, the prices of electrical, computer and electronic equipment and machinery were almost unchanged over a month (+0.1% after -0.3% in the previous month). Over a year, they kept rising (+3.6% after +3.5%) and stood around 13% above their 2021 average level.

In December 2023, the industrial producer prices for the foreign markets went down again over a month (-1.0% after -0.7%). The prices of mining and quarrying products, energy and water fell back sharply, notably due to the strong drop in electricity prices; those of manufactured products fell by 0.4% (after -0.9% in November). Prices of refined petroleum products continued to fall significantly (-6.7% after -6.5%).

Over a year, the producer prices in the French industry for the foreign markets went down for the ninth consecutive month (-4.3% after -3.0% in the previous month). They stood 13% above their 2021 average level.

In December 2023, the import prices of industrial products fell again over a month (-1.2% after -1.0% in November). Those of mining and quarrying products, energy and water kept falling, in particular those of crude petroleum, as well as those of manufactured products (-0.5% after -0.9%). Prices of the “other industrial products” fell back again (-0.4% after -0.6%), in particular those of “other organic basic chemicals” (-3.8% after -1.8%) as did those of basic iron and steel and ferro-alloy products (-2.9% after -0.1%).

Over a year, import prices of industrial products kept falling for the tenth consecutive month (-7.4% after -7.2% in November). However, they were 12% above their 2021 average level.

The monthly variation of the producer price index in the French industry in November 2023 is unchanged (after rounding), compared to the previous release: it stands at +1.5%.