Informations Rapides · 20 December 2024 · n° 321

In November 2024, the industrial producer prices rose by 2.7% over a month and fell by 3.8% over a year Industrial Producer and Import Price Indices - November 2024

In November 2024, the overall producer prices in the French industry accelerated sharply (+2.7% after +0.8% in October and -0.3% in September). Producer prices accelerated both for products sold on the French market (+3.2% after +0.9%) and for those intended for the foreign markets (+1.1% after +0.6% in October). Over a year, the French industrial producer prices fell for the seventeenth consecutive month (-3.8% after -4.9% in October and -5.9% in September). They were around 22% above their 2021 average level.

Excluding energy, the producer prices in the French industry were stable over a month (after a stability in October), and rose over a year (+0.5% after remaining stable in October).

In November 2024, producer prices in French industry for the home market accelerated over a month (+3.2% after +0.9% in October): prices of mining and quarrying products, energy and water accelerated strongly (+12.0% after +2.5%), and those of manufactured products were stable (after +0.3%). Over a year, the producer prices in the French industry for the home market fell for the twelfth consecutive month (-5.2% after -6.0% in October and -7.1% in September). They were around 25% above their 2021 average level.

In November 2024, prices for mining and quarrying products, energy and water accelerated sharply (+12.0% after +2.5% in October), driven by the very high rise in electricity prices. Over a year, prices for mining and quarrying products, energy and water declined for the twelfth consecutive month (-14.7% after -16.8% in October), but were around 44% above their 2021 average level.

Prices of refined petroleum products slowed in November (+2.1% after +7.1% in October): oil prices fell slightly over a month, but this was offset by the depreciation of the euro against the dollar over the period. Over a year, prices of refined petroleum products fell by 13.2% (after -20.1% in October) and were still around 30% above their 2021 average level.

Prices for “other industrial products” fell slightly over a month (-0.2% after +0.1% in October). The further fall in prices of textile fibres (-14.3% after -11.0%), due to high flax production (linked to abundant rainfall) was offset by the rise in aluminium prices (+1.9% after +1.0%) whose world prices had been rising since September. Prices of “other industrial products” remained around 15% above their 2021 average level.

Prices for food and beverage were virtually stable over a month (-0.1% after +0.1% in October): meat products prices fell (-3.9% after -0.2%), in line with the past fall in pork prices, while beverages prices continued to rise (+0.6% after +0.5%). Prices of food and beverages were around 26% above their 2021 average level.

In November 2024, the prices of electrical, computer, and electronic equipment and machinery were virtually stable over a month (+0.1% after -0.3% in October), they were around 14% above their 2021 average level.

Prices of transport equipment were also virtually over a month (+0.1% after a stability in October). They were about 14% above their 2021 average level.

In November 2024, the industrial producer prices for the foreign markets accelerated over a month (+1.1% after +0.6% in October). Prices of manufactured products rose again (+0.4% as in October), and those of mining and quarrying products, energy and water accelerated sharply in November.

Prices of refined petroleum products slowed sharply in November (+1.3% after +8.3% in October). Transport equipment prices accelerated slightly (+0.9% after +0.5%), as did those for food and beverages (+0.6% after +0.5% in October): prices for cocoa, chocolate and sugar confectionery products accelerated (+5.0% after +2.6%), reflecting previous sharp rise of world prices. Prices of electrical, computer, and electronic equipment and machinery rose (+0.3% after remaining stable in October), due to the rebound in prices for communication equipment (+5.1% after -2.0%).

Prices of “other industrial products” were virtually stable over a month (+0.1% after a stability in October): the sharp fall in prices of textile fibres (-11.4% after -7.6%) was offset by the rise in prices of chemicals products (+1.4% after remaining stable in October).

Over a year, the industrial producer prices for the foreign markets rebounded slightly (+0.3% in November after -1.6% in October). They were around 15% above their 2021 average level.

In November 2024, the import prices of industrial products accelerated (+1.3% after +0.4% in October). Prices of manufactured products continued to rise (+0.4% after +0.3% in October), and those of mining and quarrying products, energy and water accelerated sharply.

Prices of refined petroleum products slowed in November (+1.2% after +3.4% in October). Food and beverages prices slowed slightly (+0.4% after +0.6% in October) and those of “other industrial products” rose again in November (+0.4% after +0.3%). Prices for electrical, computer, and electronic equipment and machinery rebounded slightly in November (+0.2% after -0.2% in October).

Lastly, prices of transport equipment were virtually stable over a month (+0.1% as in October).

Over a year, the fall of the import prices of industrial products eased in November 2024 (-0.4% after -2.7% in October). They were around 13% above their 2021 average level.

The evolution of the producer price index in the French industry for the home market between September 2024 and October 2024 has not been revised: it stands at +0.9%, as published in late November 2024.