Dutch producer prices have increased faster since mid-2009 than on average across the European Union (EU) and the Netherlands’ neighbouring countries. The chemical industry had a substantial effect on the stronger price developments in the Netherlands.
Producer price index Netherlands and EU
Volatile producer price index Netherlands
The Dutch producer price index is more volatile than the EU average. Both indices peaked in the third quarter of 2008, followed by a price slump before reaching a low point in mid-2009. With a peak in 2008, oil prices played an important part in this respect. The peak in Dutch producer prices in 2008 was above the EU average, whereas the lowest point was below the EU average. Since mid-2008, prices in the Netherlands have risen faster than the EU average.
Producer price index Netherlands, Germany, United Kingdom and Belgium
Dutch producer prices increase somewhat faster than in adjacent countries
Dutch producer prices have also increased faster in the Netherlands than in adjacent countries like Germany, Belgium and the United Kingdom. Producer prices peaked in all countries in the course of 2008, but the peak in the Netherlands was obviously higher than in the other countries and the lowest point was below the level of the other countries. Since mid-2009, producer prices have shown an upward trend and Dutch producer prices increased most rapidly in this period.
Producer price index chemical industry
Chemical industry has noticeable effect on Dutch producer prices
Producer prices in Dutch chemical industry varied more than in the adjacent countries and the EU average. Prices of products manufactured by Dutch chemical industry depend heavily on exports and raw material prices. Since the Netherlands has a relatively large chemical industry, it is an important factor in total producer price developments.