French Producer Prices Fall as Expected

French domestic producer prices fell by 0.2% month-on-month in February 2026, reversing a 0.5% increase in January and in line with expectations. The decline was driven by a renewed drop in prices for mining, quarrying, energy, and water (-1.7% vs +1.0%), largely due to lower electricity costs amid favorable weather conditions. In contrast, prices for manufactured goods continued to rise (0.4% vs 0.3%), mainly driven by a sharp increase in coke and refined petroleum products (10% vs 0.4%). Excluding energy in the broad sense (hydrocarbons, refined petroleum products, electricity, etc.), producer prices in French industry were virtually stable over the month (+0.1% after +0.4%). On an annual basis, domestic producer prices extended their decline, falling 2.4% in February after a 2.3% drop in January, signaling continued deflationary pressure. Energy-related prices remained the main drag, down 8.5% year-on-year, marking their 27th consecutive monthly decline.

French domestic producer prices rose by 0.5% month-on-month in January 2026, following an upwardly revised 0.3% increase in the previous month. This marked the fourth straight month of growth, as prices rebounded for manufactured goods (0.3% vs -0.5% in December), coke and refined petroleum products (0.4% vs -11.7%), electrical, electronic, and computer equipment; machines (0.6% vs -0.2%), and transport equipment (0.4% vs -0.1%). In contrast, costs declined for food products (-0.2% vs 0.3%), while inflation softened for extractive industries, energy, and water (1.2% vs 2.8%). On an annual basis, the decline in producer prices intensified, dropping 2.3%, the sharpest since December 2024, compared with a 1.9% fall in December. Excluding energy in the broadest sense (hydrocarbons, coke and refining products, electricity, etc.), industrial production prices rose by 0.3% month-on-month after remaining stable in December, and up 0.1% over a year after a 0.5% gain in the prior period.

French domestic producer prices rose 0.2% month-on-month in December 2025, slowing sharply from an upwardly revised 2.8% surge in November. The moderation was driven by weaker prices in extractive industries, energy, and water (+2.9% vs +10.8% in November), while prices for manufactured goods declined (–0.6% vs +0.5%). Costs also fell sharply for coke and refined petroleum products (–13.1% vs +7.8%), whereas prices for food products increased slightly (+0.1% vs –0.2%). On an annual basis, the decline in French domestic producer prices dropped 2.0%, the largest fall since January, and picking up from a revised 1.5% decline in November. Excluding energy in the broadest sense (hydrocarbons, coking and refining products, electricity, etc.), French industrial production prices are stable month-on-month after a 0.1% gain in November, and continue to increase year-on-year (0.4% vs 0.5%).