Informations Rapides · 31 July 2024 · n° 191

In June 2024, the industrial producer prices went down by 0.2% over a month and by 4.6% over a year Industrial Producer and Import Price Indices - June 2024

In June 2024, the overall producer prices in the French industry fell down over a month for the seventh consecutive month (-0.2% after -1.2% in May). They dropped for products intended for the French market (-0.3% after -1.6%) while those intended for the foreign markets rebounded (+0.3% after -0.4%). Over a year, the French industrial producer prices were down for the twelfth consecutive month (-4.6% after -5.1% in May). They were however approximately 18% above their 2021 average level.

Excluding energy, the producer prices in the French industry were almost unchanged over a month (-0.1% after +0.2% in May) and were down again over a year (-0.3% after -0.4%).

In June 2024, the fall of producer prices in the French industry for the home market continued to ease month-on-month (-0.3% after -1.6% in May) in the wake of prices for mining, energy and water products (-1.0% after -4.8%). The prices of manufactured products were almost stable (-0.1% after -0.3%). Over a year, the producer prices in the French industry for the home market fell again for the seventh consecutive month (-6.0% after -6.7% in May 2024). They were 20% above their 2021 average level.

In June 2024, the prices for mining, energy and water products fell again over a month (-1.0% after -4.8% in May) due to the continuing fall of electricity production and trade prices (-3.4% after -9.2%). Over a year, producer prices for mining, energy and water products were down for the seventh consecutive month (-18.4% after -20.4%) but were still 23% above their 2021 average level.

Prices for refined petroleum products eased over a month (-0.8% after -7.9%) following the stabilisation of oil prices in June. They were still 40% above their average 2021 level.

Prices of food and beverages fell back over a month (-0.3% after +0.2%), driven by those of dairy products and cheese (-0.6% after +0.5%). They remained 25% above their 2021 average level.

Transport equipment prices were almost unchanged (-0.1% as in May): motor vehicles prices went down by 0.3% after a stability in May. They were around 14% above their 2021 average level.

In June 2024, prices of the “other industrial products” were again virtually stable over a month (+0.1% as in May). Those of plastic packing-goods prices accelerated (+1.9% after -0.3%) in line with the rise of raw material costs while prices of hollow glass were down again (-2.0% after -1.1%). Prices of the “other industrial products” remained 15% above their 2021 average level.

Lastly, prices of electrical, computer and electronic equipment and machinery were also almost unchanged over a month (+0.1% after +0.3% in May). They were 14% above their 2021 average level.

In June 2024, the industrial producer prices for the foreign markets rebounded over a month (+0.3% after -0.4% in May), notably those of mining and quarrying products, energy and water due to a sharp rise in electricity prices. The prices of manufactured products were slightly fallen down (-0.2% after -0.1% in May).

“Other industrial products” prices fell back over a month (-0.4% after +0.3%) driven by the decrease of chemicals and chemical products (-1.1% after a stability in May), while those of refined petroleum products fell down again (-0.5% after -5.3%).

Prices of food and beverages were almost unchanged over a month (-0.1% after +0.2%): the rise of prices of prepared feeds for farm animals (+6.1% after +2.8%) was offset by the fall in prices of processing and preserving of fish, crustaceans and molluscs products (-2.5% after +3.1%). Prices of electrical, computer and electronic equipment and machinery were also almost unchanged over a month (-0.1% after +0.1%).

Finally, prices of transport equipment rebounded over a month (+0.2% after -0.3%).

Over a year, the industrial producer prices for the foreign markets fell in June 2024 for the fifteenth consecutive month (-0.4% after -0.1% in May). They were around 13% above their 2021 average level.

In June 2024, the import prices of industrial products rose over a month (+0.7% after -0.9% in May). Prices of mining and quarrying products, energy and water were notably dynamic this month due to a sharp rise in gas prices. Prices of manufactured products were virtually stable (+0.1% after -0.5%).

Prices of refined petroleum products rebounded (+1.1% after -7.2%) and those of food and beverages prices sped up (+0.6% after +0.1%).

Prices of electrical, computer and electronic equipment and machinery fell back (-0.3% after +0.3%) driven by the drop of communication equipment prices (-2.4% after +1.3%). Prices of transport equipment went down for the fifth consecutive month (-0.3% after -0.5%). “Other industrial products” prices were again stable (+0.1% after -0.1%).

Over a year, the import prices of industrial products were almost unchanged in June 2024 (+0.1% after -1.4% in May) after fifteen consecutive months of drop. However, they were 12% above their 2021 average level.

The monthly variation of the producer price index in the French industry in May 2024 has not been revised compared to the previous release: it stands at -1.2%.