Increase factory gate prices less substantial

Factory gate prices of Dutch manufactured products were nearly 9 percent higher in April than twelve months previously. The increase in manufacturing prices was less substantial than in the three preceding months and is now back on the level of December 2007.

Soaring oil prices (North Sea Brent) played an important role in the increase of factory gate prices. The oil price per barrel (in dollars) was on average 65 percent higher in April than twelve months previously. The effect of the sharp increase in oil prices on selling prices was partly offset by the depreciation of the US dollar against the euro. Pushed up by rising oil prices, selling prices in the petroleum processing and refining industry were nearly 32 percent higher in April than in the same month last year. If price rises in the petroleum industry are not taken into account, manufacturing prices were well over 5 percent up on April 2007.

Food manufacturers charged nearly 10 percent more for their products than in April 2007. This price increase is substantial, but less robust than in the preceding nine months. With over 8 percent, prices of chemical products also rose substantially. Not all branches of industry raised their selling prices. Prices of basic metal products were lower than twelve months ago for the ninth month in a row. This price drop is the smallest in the past seven months.

Factory gate prices in manufacturing industry were nearly 1 percent up on March this year. The price increase for products sold on the domestic market was somewhat more substantial than the price increase for exported products.

Factory gate prices