Informations Rapides · 29 November 2024 · n° 299

In October 2024, the industrial producer prices rose by 0.8% over a month and fell by 4.7% over a year Industrial Producer and Import Price Indices - October 2024

In October 2024, the overall producer prices in the French industry rose sharply (+0.8% after -0.1% in September and +0.2% in August). Producer prices rose both for products sold on the French market (+0.9% after -0.1%) and for those intended for the foreign markets (+0.5% after -0.4% in September). Over a year, the French industrial producer prices fell for the sixteenth consecutive month (-4.7% after -5.7% in September and -5.0% in August). They were around 19% above their 2021 average level.

Excluding energy, the producer prices in the French industry were stable over a month (after a virtual stability in September), and were also stable over a year (after a virtual stability in September).

In October 2024, producer prices in French industry for the home market increased over a month (+0.9% after -0.1% in September): prices of mining and quarrying products, energy and water products accelerated (+2.4% after +1.4%), and those of manufactured products rebounded slightly (+0.3% after -0.5%). Over a year, the producer prices in the French industry for the home market fell for the eleventh consecutive month (-5.7% after -6.9% in September and -6.2% in August). They were about 21% above their 2021 average level.

In October 2024, prices of refined petroleum products rebounded strongly in October (+7.2% after -9.2% in September) due to the increase in oil prices, which rose moderately in October but were amplified by the depreciation of the euro against the dollar over the period. Over a year, they dropped by 20.0% (after -31.7% in September) but were still approximately 28% above their 2021 average level.

In October 2024, prices for mining and quarrying products, energy and water accelerated (+2.4% after +1.4% in September), driven by the sharp rise in electricity prices. Over a year, prices of mining and quarrying products, energy and water declined for the eleventh consecutive month (-16.0% after -17.2% in September), but were around 29% above their average level in 2021.

Prices for electrical, computer and electronic equipment and machinery fell back over a month in October 2024 (-0.3% after +0.4%), in line with those of electrical equipment (-0.8% after +0.8% in September). Prices of electrical, computer and electronic equipment and machinery were around 14% above their 2021 average level.

Prices for food and beverage were almost stable over a month (+0.1% after a stability in September): prices of meat and slaughter products continued to fall (-0.8% after -1.2%), in a context of falling consumer demand, while prices of bread, fresh pastry goods and cakes rebounded (+0.8% after -0.2%), due to rising prices for certain raw material (butter and cocoa). Prices of food and beverages were around 26% above their 2021 average level.

In October 2024, transport equipment prices were stable as in September. They were about 14% above their 2021 average level.

Prices of “other industrial products” were stable over a month (after -0.2% in September). They remain around 15% above their 2021 average level.

In October 2024, the industrial producer prices for the foreign markets rebounded over a month (+0.5% after -0.4% in September). Prices of manufactured products rose (+0.3% after -0.4% in September), and those of mining and quarrying products, energy and water accelerated sharply in October.

Prices of refined petroleum products rebounded strongly in October (+8.3% after -8.6%). Those of food and beverages rose again in October (+0.4% after remaining virtually stable in September): the sharp fall in sugar prices attenuated in particular the acceleration of dairies and cheese prices (+1.1% after +0.2%). Transport equipment prices rebounded (+0.5% after -0.3% in September), linked to the rebound of air and spacecraft and related machinery prices (+0.9% after -0.5%).

Prices of electrical, computer, and electronic equipment and machinery were stable over a month, after a virtual stability in September, and those of “other industrial products” were virtually stable (after -0.2% in September).

Over a year, the industrial producer prices for the foreign markets decreased (-1.6% in October after -2.0% in September). They were around 13% above their 2021 average level.

In October 2024, the import prices of industrial products rebounded (+0.4% after -0.5% in September). Prices of manufactured products rose (+0.3% after -0.3% in September), as did those of mining and quarrying products, energy and water.

Prices of refined petroleum products rebounded in October (+3.6% after -5.3% in September). Food and beverages prices rose again (+0.6% after +0.8%) due to the increase of processed tea and coffee prices (+5.4% after remaining stable in September). Prices of electrical, computer, and electronic equipment and machinery continued to fall slightly in October (-0.2% after -0.3%).

Lastly, prices of transport equipment were virtually stable over a month (after a stability in September), as were those of “other industrial products”.

Over a year, the import prices of industrial products fell in October 2024 (-2.7% after -3.0% in September). 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 August 2024 and September 2024 has not been revised: it stands at -0.1%, as published in late October 2024.