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French producer prices rise 1.1% in February

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French producer prices rise 1.1% in February

French producer prices rose 1.1% on an annual basis in February compared to a 0.6% increase in January, data from the National Institute of Statistics and Economic Studies showed.

In the domestic markets, producer prices rose 1.5% year on year in February, slightly offset by a 0.3% dip in foreign markets. Price increases for mining and quarrying, energy and water led the overall increase in the French markets with a 3.6% jump in February. Producer prices for manufactured products rose 1.0% during the month after falling 0.3% in January.

Electrical and electronic equipment, computer and machinery producer prices shed 1.0% in foreign markets in February, after a 0.2% decline in January. Prices in that group fell 0.4% for all markets on an annual basis.

On a monthly basis, producer prices in French industry ticked up 0.2% in February after falling 0.1% in January. Producer prices for coke and refined petroleum products fell 5.8%, while food products, beverages and tobacco prices remained stable month on month.

Import prices for industrial products slipped 0.1% in February year on year, with food products, beverage and tobacco prices diving 2.7% during the month.