Prices of manufactured products fall further

Selling prices of Dutch manufactured products fell again in May, for the third month in a row: prices were 1.6 percent lower than in April. Prices of exported products (-2.1 percent) fell by more than those sold on the domestic market (-0.7 percent).

Prices in the oil industry are a main determining factor for the development of selling prices of the manufacturing industry. If the oil industry is left out of account the price decrease would have been 0.6 percent.

Prices of intermediate consumption also down

Intermediate consumption was 1.3 percent cheaper in May than in April. Prices of raw materials and semi-manufactured goods bought in the Netherlands were 0.9 percent cheaper than in April, while those imported cost 1.6 percent less.

Producers’ prices compared with previous month

Prices approaching last year’s level

Because of the price decreases in recent months, prices of both sales and intermediate consumption are approaching the levels of twelve months previously. Selling prices were 0.5 percent higher in May this year than in May 2002, while in February they were still 7.1 percent higher than twelve months previously. Prices of intermediate consumption were 0.3 percent higher in May than in the same month last year; in February they were 10.8 percent higher than in February 2002.

Producers’ prices compared with twelve months previously

Corien Ooms