French industrial prices rise sharply

The production prices of the French industry increased by 8.2% on an annual basis in September 2026, according to Insee, the French national statistics office. This follows an increase of 6.1% in August, showing a continued upward trend in industrial costs.

Energy and refining drive price surge

The production and import price indices published by Insee on October 30 show an acceleration of 1.7% on a monthly basis, driven notably by energy and refining. For industrial companies, these figures illuminate the evolution of prices charged upstream of commercial circuits, without directly measuring their margins or the prices paid by consumers.

Coking and refining prices soar

The production prices of coking and refining activities have increased by 92.4% on an annual basis, after 68.4% in August. Their monthly increase reaches 17.3%. Insee notes that the index for this sector is approaching its highest level observed since the beginning of the series, in January 1995, reached in June 2022.

Energy prices climb due to supply issues

On the French market, the prices of products from extractive industries, energy and water increase by 10.2% on an annual basis. Gas shows an increase of 23.4% and electricity of 7.5%. The institute links the tensions on gas to persistent supply disruptions, the relatively low level of stocks before the heating season and a failure on a Norwegian field.

Imported raw materials see sharp increases

These movements extend the increase in imported raw materials described by Insee in its report of October 27: in September, the prices in euros of oil and gas had respectively increased by 16.5% and 21.2% on a monthly basis.

Non-energy industrial prices rise more slowly

Excluding energy in a broad sense, industrial production prices increase by 3.2% on an annual basis, after 2.8% in August. The monthly increase remains more moderate, at 0.3%. Other industrial products gain 4.4% over twelve months, electrical, electronic, computer and machine equipment 2.8%, and transport equipment 1.2%.

Agro-food prices remain stable

The situation is different in agro-food: its production prices intended for the French market remain down 0.2% on an annual basis, despite an increase of 0.3% in September. Insee notes in particular a monthly rebound of 0.8% in the prices of dairy and cheese products, which it links to the increase in the cost of raw materials.

Imported and domestic prices diverge

The prices of imported industrial products increase by 11.0% on an annual basis and by 2.0% on a monthly basis. Meanwhile, the production prices of French companies intended for the domestic market increase by 6.8% over twelve months, compared to 12.0% for those intended for foreign markets. These distinct areas must be maintained to compare the evolutions.

Indices guide but don’t determine business costs

For industrial buyers and suppliers, the indices constitute benchmarks on the prices of their markets, but are not sufficient to determine the variations in costs or profitability of each company: these depend on its supplies, its contracts and its ability to pass on increases. Insee will publish the indices relating to October on November 26, 2026.