Informations Rapides · 31 May 2024 · n° 136

In April 2024, the industrial producer prices went down by 2.8% over a month and by 5.4% over a year Industrial Producer and Import Price Indices - April 2024

In April 2024, the overall producer prices in the French industry fell over one month for the fifth consecutive month (-2.8% after -0.7% in March): they dropped both for products intended for the French market (-3.6% after -1.0%) and for those intended for the foreign markets (-0.3% after -0.1%). Over a year, the French industrial producer prices were down for the tenth consecutive month (-5.4% after -6.6% in March). They were however approximately 20% above their 2021 average level.

Excluding energy, the producer prices in the French industry were stable over a month after +0.2% in March and fell again over a year (-1.0% after -1.4%).

In April 2024, the fall of producer prices in the French industry for the home market intensified over a month (-3.6% after -1.0% in March), driven down by the fall of prices of mining and quarrying products, energy and water (-12.6% after -3.3%), while prices of manufactured goods rose slightly (+0.2% after remaining stable in March). Over a year, the producer prices in the French industry for the home market fell for the fifth consecutive month (-6.8% after -8.3% in March). They were 22% above their 2021 average level.

In April 2024, the prices of mining and quarrying products, energy and water fell significantly over a month (-12.6% after -3.3%), due to falling prices on electricity wholesale markets and the seasonal fall in prices of electricity distribution. Over a year, the prices of mining and quarrying products, energy and water were down for the fifth consecutive month (-19.0% after -20.3% in March 2024) but they were still 30% above their 2021 average level.

In April 2024, the prices of food and beverages were virtually stable, after a slight rise in march (-0.1% after +0.2%). In particular, the prices of starches and starch products fell significantly (-5.0% after -0.9% in March). On the other hand, prices of processed and preserved fish, crustaceans and molluscs rose (+2.3% after a stability in March).

Prices of transport equipment were also virtually stable (-0.1% after +0.4% in March): prices of motor vehicles in particular were slightly down (-0.2% après +0.6%).

Prices of electrical, computer and electronic equipment and machinery remained virtually stable (+0.1% after -0.1% in March).

In April, the prices of the “other industrial products” were stable, after a 0.2% rise in March. Trends vary depending on the products: prices of basic iron and steel and of ferro-alloys fell sharply (-6.8% after -0.5%), while those of paper and paperboard rose significantly (+3.3% after a stability in March).

In April 2024, prices of refined petroleum products rebounded (+3.3% après -2.7% in March), in line with the oil price rise. Over a year, prices of refined petroleum products sped up (+8.9% after +0.4% in March). They were 53% above their 2021 average level.

In April 2024, the industrial producer prices for the foreign markets fell over a month (-0.3% after -0.1% in March), in particular those of mining and quarrying products, energy and water. Meanwhile, prices of manufactured products remained virtually stable (+0.1%, as in March).

Prices of food and beverages continued to fall (-0.2%, as in March): those of sugar fell significantly (-5.7% after -2.7% in March), due to oversupply on world markets, while those of oil and fats rose sharply (+2.7% after -0.2%).

Prices of refined petroleum product slowed down (+0.6% after +1.1%), while prices of transport equipment were back on the rise (+0.4% after -0.1%), as the dollar appreciated against the euro.

Over a year, the industrial producer prices for the foreign markets fell in April 2024 for the thirteenth consecutive month (-1.0% after -1.6% in March). They were 14% above their 2021 average level.

In April 2024, the import prices of industrial products were virtually stable over a month (+0.1% after -0.4%). The prices of manufactured products bounced back (+0.4% after -0.3% in March) while the fall of mining and quarrying products, energy and water prices softened. Prices of food and beverages sped up (+1.3% after +0.9%), strongly driven up by those of tea and coffee (+10.4% after a stability in March) and of dairies and cheese (+2.9% after +2.8%). Prices of refined petroleum products were back on the rise (+0.4% after -3.3% in March), as were those of the “other industrial products” (+0.2% after -0.1%). Prices of transport equipment were virtually stable (+0.1% after -0.2%), as were those of electrical, computer and electronic equipment and machinery (+0.1% after +0.2%).

Over a year, the import prices of industrial products continued to fall in April 2024 for the fourteenth consecutive month (-2.9% in April after -3.9% in March). They were nevertheless 12% above their 2021 average level.

The evolution of the producer price index in the French industry between February 2024 and March 2024 has been revised downwards by 0.8 points: it now stands at -1.0%, instead of -0.2% in the previous release. The revision is due to late responses on the prices for the production and trade of electricity.