The Dutch manufacturing industry raised the selling prices of its products by 0.2 percent in July 2003 compared with June. This was the fist increase after four months of falling prices. Prices on both the export and the domestic markets were slightly up.
The increase in selling prices was mainly the consequence of price increases for oil products. If the effect of prices in this sector is left out of account, selling prices would have fallen by 0.1 percent in July.
Producers’ prices compared with previous month
Raw materials also cost more
Manufacturers paid 1.2 percent more for intermediate consumption than in June. Raw materials and semi-manufactured products bought in the Netherlands were 0.8 percent more expensive than in June, while those imported cost 1.5 percent more. The high import prices for petroleum pushed prices up. If the price developments in the oil industry are left out of account, the increase in the prices for intermediate consumption would be 0.4 percent.
Producers’ prices compared with same month previous year
Selling prices at the same level as last year
As a result of the price changes in July, selling prices are now at nearly the same level as they were in July 2002 (-0.1 percent). In the last eleven months selling prices have been higher than twelve months previously. Prices of intermediate consumption were 0.7 percent higher than in July 2002.