Price rises manufacturing industry highest in seven years

Factory gate prices of Dutch manufacturing industry were 8.7 percent up in November 2007 on November last year. This is the most substantial price increase in seven years. In January 2007, prices were only 1.1 percent higher than one year previously. Subsequently, prices have risen almost every month.

Selling prices in the petroleum processing and refining industry were nearly 36 percent higher than in November 2006. Over the past three months, prices have risen substantially as a result of higher oil prices. On average, the oil price per barrel (in dollars) rose by more than 50 percent. The sharp price increase was partly offset by a devaluation of the dollar against the euro by nearly 13 percent. If price rises in the petroleum industry are not taken into account, manufacturing prices were 5 percent higher and have gradually risen since the beginning of this year.

Prices of food products have increased substantially relative to one year ago: selling prices were almost 13 percent higher, but not all products of the manufacturing industry became more expensive. In the basic metalindustry, selling prices were down by almost 5 percent relative to November 2006. A similar price drop has not occurred in the basic metal industry in the last five years.

Factory gate prices in manufacturing industry were on average 1.3 percent up on October. Prices of exported goods increased more than prices of products sold on the domestic market.

Factory gate prices