Informations Rapides · 30 April 2024 · n° 109

In March 2024, the industrial producer prices went down by 0.2% over a month and by 6.0% over a year Industrial Producer and Import Price Indices - March 2024

In March 2024, the overall producer prices in the French industry fell over one month for the fourth consecutive month (-0.2% after -1.3% in February) as did those for the home market (-0.2% after -1.7%). The prices of products for the foreign markets were virtually stable (-0.1% after +0.1%). Over a year, the French industrial producer prices were down for the ninth consecutive month (-6.0% after -4.8% in February). They were 24% above their 2021 average level.

Excluding energy, the producer prices in the French industry were virtually stable over a month (+0.1% in March 2024, after +0.1% in February and in January) and were down again over a year (-1.4% after -1.1%).

In March 2024, the producer prices in the French industry for the home market continued to fall over one month (-0.2% after -1.7% in February). Over a year, the producer prices in the French industry for the home market fell for the fourth consecutive month (-7.5% after -5.5% in February 2024). They were 28% above their 2021 average level.

In March 2024, the prices for mining, energy and water products fell over one month at a more moderate pace (-0.5% after -6.1%), in the wake of the fall in electricity production and trade prices. Over a year, they fell for the fourth consecutive month (-17.7% after -13.5% in February 2024) but were nonetheless 53% above their 2021 average level.

In March 2024, prices of refined petroleum products fell over a month (-2.7% after +7.3% in February). Over a year, they were slightly up (+0.4% after +1.5%). They were still 48% above their 2021 average level.

In March 2024, transport equipment prices were down slightly over a month (-0.2% after +0.1% in February). Over a year, transport equipment prices fell slightly more significantly (-0.7% after -0.3% in February 2024); they were still around 14% above their 2021 average level.

In March 2024, prices of electrical, computer and electronic equipment and machinery were virtually stable over a month (-0.1% after a stability in February). Over a year, they kept decelerating (+1.1% after +1.4%). They were 14% above their 2021 average level.

In March 2024, the prices of the “other industrial products” were slightly up over a month (+0.2% after a stability in February). This increase was due to prices of textile yarn and thread (+3.5% after +1.2%) and prices of chemicals and chemical products (+1.3% after -0.6%). Over a year, prices of the “other industrial products” were down for the eleventh consecutive month (-2.6% in March after -2.9% in February). They were still 15% above their 2021 average level.

In March 2024, food and beverage prices rose slightly over a month (+0.2% after -0.2% in February), driven up by prices of processed and preserved meat (+3.3% after +0.5%) and those of other processed and preserved fruit and vegetables (+1.4% after -0.8%). Over a year, food and beverage prices fell back (-3.1% after -1.2%). They were 25% above their 2021 average level.

In March 2024, the industrial producer prices for the foreign markets were virtually stable over a month (-0.1% after +0.1% in February), notably those of manufactured products (+0.1% after +0.4% in February). Prices of refined petroleum products slowed down (+1.1% after +5.6%), as did those for “other industrial products” (+0.3% after +0.4%). Conversely, those of food and beverages fell for the sixth of consecutive month (-0.2% after -0.2%). Those of transport equipment also fell slightly (-0.2% after +0.4%), while prices of electrical, computer and electronic equipment and machinery were stable (as in February).

Over a year, export prices for the French industrial products fell in March 2024 for the twelfth consecutive month (-1.5% after -2.1% in February). They were still 14% above their average level of 2021.

In March 2024, the import prices of industrial products were down over a month (-0.4% after +0.1%), in the wake of mining and quarrying products, energy and water prices, in particular those of natural gas, which were down for the fifth consecutive month. Prices of manufactured products also fell (-0.2 % after +0.4%) due to a sharp fall of refined petroleum product prices (-3.3% after +5.8%). Prices for transport equipment went down too (-0.2% after +0.2%) while those for “other industrial products” were stable (after +0.2%). Prices of electrical, computer and electronic equipment and machinery rose slightly (+0.2% after -0.4%). The rise was more marked for food and beverage prices (+0.9% after a stability in February).

Over a year, the import prices of industrial products kept falling in March 2024 for the thirteenth consecutive month (-3.9% in March after -5.1% in February). They were 12% above their 2021 average level.

The monthly variation of the producer price index in the French industry in February 2024 has not been revised compared to the initial release: it stands at -1.3%.