Producer prices in the French domestic market rose by 3.2% month-over-month in November 2024, a sharp increase from the 0.9% rise in October.
France producer prices highest since 2022
This marked the highest producer inflation since March 2022, primarily driven by a significant surge in prices for mining and quarrying, which jumped by 12% compared to 2.4% in the previous month. The spike was largely due to a dramatic rise in electricity costs, reflecting the ongoing volatility in energy prices. Meanwhile, prices in manufacturing remained stable, with no change in November compared to a slight increase of 0.1% in October. This stability was largely due to flat pricing in sectors such as electrical and electronic equipment, computers and machinery, and transport equipment.
Year-over-year data
On a yearly basis, however, producer prices declined by 5.2% in November, following an upwardly revised 6% decrease in the prior month, indicating that overall inflationary pressures in the domestic market remain subdued compared to last year.
