The prices of Dutch manufactured goods were on average 5.8 percent higher in July 2006 than in July 2005. The increase was more modest than in the preceding months. In May and June, producer prices rose by 7.4 and 6.1 percent respectively. For over two years, the prices of manufactured products were up by 5 percent or more on the corresponding month of the previous year.
Prices of crude oil and oil products greatly influence Dutch producer prices. Oil products were more expensive in July than in June, but the increase was smaller than for July on June 2005.
July prices for products of the oil processing industry were up by over 17 percent on July 2005. Influenced by the hike in oil prices, their selling prices rose by about 37 percent in May on the corresponding month of the previous year and by almost 24 percent in June.
If prices of oil products are left out of consideration, producer prices were up by 4.0 percent in July 2006 on July 2005. This is 0.4 of a percent point higher than in June this year.
Compared to June, manufacturers raised the selling prices of their products by an average 0.7 percent. July prices for goods sold on the Dutch market were up by 1.0 percent, while prices of goods sold on the export market rose by 0.6 percent.
In July producer prices were higher for nearly all branches of the Dutch manufacturing industry than in June. Price increases were observed in the wood processing industry and metal industry. The rise in producer prices was above average in the oil processing industry and the chemical industry. Selling prices only fell in the sectors food, office machinery and medical and optical equipment.
Factory gate prices