Informations Rapides · 30 August 2024 · n° 216

In July 2024, the industrial producer prices rose by 0.2% over a month and fell by 4.1% over a year. Industrial Producer and Import Price Indices - July 2024

In July 2024, the overall producer prices in the French industry rebounded slightly after seven consecutive months of decline (+0.2% after -0.1% in June, -1.3% in May and -2.8% in April). Producer prices rose moderately for products for the French market (+0.2% after -0.2%) while those intended for the foreign markets remained stable (after a 0.4% rise in June). Over a year, the French industrial producer prices were down for the thirteenth consecutive month (-4.1% after -4.6% in June and -5.2% in April). They were approximately 18% above their 2021 average level.

Excluding energy, the producer prices in the French industry were stable over a month following an almost stability period in June (-0.1%), and virtually stable over a year (+0.1% after -0.3%).

In July 2024, the producer prices in the French industry for the home market rebounded slightly over a month (+0.2% after -0.2% in June): prices of mining and quarrying products, energy and water products rose again (+0.6% after -0.6%) as did those of manufactured products (+0.2% after -0.1%). Over a year, the producer prices in the French industry for the home market fell for the eighth consecutive month (-5.4% after -5.9% in June and -6.7% in May). They were around 20% above their 2021 average level.

In July 2024, the slight rebound in prices for mining and quarrying products, energy and water products (+0.6% after -0.6% in June) was mainly due to the rise in prices for products for distribution of gaseous fuels through mains (+26.8% after a stability in June). Over a year, producer prices for mining, energy and water products were down for the eighth consecutive month (-16.8% after -18.2%) but were still 24% above their 2021 average level.

Prices for refined petroleum products were back on the rise (+2.0% after -0.7%) following the rise of oil prices in July. They were around 43% above their average 2021 level.

Prices of food and beverages were also rebounding (+0.3% after -0.2%), in line with dairy products and cheese prices (+0.6% after -0.5%) and butter prices in particular. Prices of food and beverages were around 26% above their 2021 average level.

In July 2024, transport equipment prices were stable after a 0.2% fall in June. They were around 14% above their 2021 average level.

Prices of electrical, computer and electronic equipment and machinery were again stable over a month in July 2024. Prices for electrical motors, generators and transformers rebounded (+1.6% after -1.3% in June). Conversely, prices for wiring devices continue to fall (-2.2% after -0.9%). Prices of electrical, computer and electronic equipment and machinery were around 14% above their 2021 average level.

In July 2024, prices for “other industrial products” were down over a month (-0.2% after remaining virtually stable in June and May), driven by the sharp fall in prices for basic iron and steel products and of ferro-alloys (-7.5% after -0.3%), in a context of global overproduction. Prices for “other industrial products” remained above 15% above their average 2021 level.

In July 2024, the industrial producer prices for the foreign markets were stable over a month (after +0.4% in June). Prices of manufactured products were virtually stable (+0.1% after a 0.2% fall in June), while prices of mining and quarrying products, energy and water were down.

Prices of food and beverages were down over a month (-0.3% after -0.1%), in line with those of distilled alcoholic beverages (-0.7% after +0.5%).

Prices of electrical, computer and electronic equipment and machinery fell back (-0.2% after +0.1%) in line with prices of machineries for mining, quarrying and construction (-3.9% after +4.0%).

Transport equipment prices were again virtually stable (-0.1% after +0.1%).

Prices of refined petroleum products rebounded (+0.4% after -0.4%), as did those of “other industrial products” (+0.2% after -0.4%) driven by the rise in prices for paper and paperboard (+1.5% after +1.8% in June) due to rising prices of cellulose.

Over a year, the industrial producer prices for the foreign markets rebounded slightly in July 2024 after fifteenth consecutive month of decline (+0.2% after -0.4% in June). They were around 13% above their 2021 average level.

In July 2024, the import prices of industrial products were virtually stable (+0.1% after +0.8% in June). Prices of manufactured products were virtually stable (+0.1% after +0.2%) while prices of mining and quarrying products, energy and water were on the rise.

Transport equipment prices accelerated slightly (+0.4% after +0.3%), driven by higher aircraft and spacecraft prices. Conversely, food and beverages prices slowed (+0.2% after +0.5%).

Prices of electrical, computer and electronic equipment and machinery were virtually stable (+0.1% after -0.2%). Prices for watches and clocks rose sharply (+4.1% after +0.2% in June), while the fall in prices for bearings, gears, gearing and driving elements intensified (-1.6% after -0.3%). Prices of refined petroleum products were also virtually stable (+0.1% after +1.1%).

“Other industrial products” prices were stable (after a 0.2% rise in June).

Over a year, the import prices of industrial products accelerated slightly in July 2024 (+0.4% after +0.3% in June). They were around 12% above their 2021 average level.

The evolution of the producer price index in the French industry for the home market between May 2024 and June 2024 has been revised upwards by 0.1 points: published in late July 2024 at -0.3%, it has been reviewed at -0.2%.