France's producer price index rose sharply in November

According to the report from Insee, the industrial producer prices rose by 1.2% in November 2020, after –0.1% in the previous month. The prices for the home market ramped up (+1.7% after a stability) while those for the foreign markets increased very slightly (+0.2% after –0.4%). Year on year, the industrial producer prices decreased by 1.9% in November 2020 (after –2.0% in the previous month).

The industrial producer prices for the home market rose by 1.7% in November 2020 (after a stability), driven up by the prices of mining and quarrying products, energy and water. However, those of manufactured products stabilized (after +0.2%). Year on year, the industrial producer prices for the home market declined by 1.8% in November 2020 (after –2.1% in the previous month).

In November 2020, the prices of mining and quarrying products, energy and water rebounded strongly (+6.7% after –0.3%), owing to a seasonal rise in producer prices of electricity, gas, steam and air conditioning (+8.7% after a stability), especially those of electricity transmission and distribution services, due to the switch to the winter rate. Year on year, the prices of mining and quarrying products, energy and water fell however by 0.3% in November 2020 (after –0.7% in the previous month).

In the wake of crude oil prices, the prices of refined petroleum products grew by 2.8% in November 2020 over a month (after +0.1%). Over a year, they fell by 37.7% over a year (after –39.7%).