In February, factory gate prices of Dutch manufactured products were over 9 percent up on twelve months previously. In the three preceding months, the price rise was in the same order of magnitude. The strong rise in factory gate prices are closely connected with the higher oil prices.
On average the oil price per barrel (in dollars) was about 60 percent higher than in the same month last year. The sharp increase in oil prices was partly offset by an 11 percent fall in the value of the dollar against the euro. Selling prices in the petroleum processing and refining industry were 35 percent higher than in February 2007. If price rises in the petroleum industry are not taken into account, manufacturing prices were nearly 6 percent up on the same month last year. This is the same as the increase in January.
Prices of chemical and food products have also risen substantially. At over 9 percent, the increase in selling prices of the chemical industry was the largest in sixteen months. Food manufacturers charged 12 percent more for products than twelve months previously. Price increases have been in double digits since mid-2007. On the other hand, prices of basic metal products were lower than twelve months previously for the seventh month in a row.
Factory gate prices in the manufacturing industry were 0.3 percent up on January 2007. The price increase for products sold on the domestic market equalled that for exported goods.
Factory gate prices