Factory gate prices of Dutch manufactured products were 12 percent higher in June than twelve months previously. Prices already increased by nearly 11 percent in May. The increase is mainly caused by soaring oil prices. The increase in factory gate prices is reduced by half, if price rises in the petroleum industry are not taken into account.
The dollar price of a barrel of North Sea Brent oil was 90 percent higher in June 2008 than in June 2007. The price in euros increased by 62 percent. The latter increase is less substantial, due to depreciation of the US dollar against the euro. Selling prices in the petroleum processing and refining industry were over 48 percent higher in June than one year previously.
Manufacturers in the chemical industry charged over 11 percent more for their products than one year previously. With 10 percent, selling prices in the food industry also rose substantially. Prices of basic metal products were nearly 2 percent higher than in June 2007. After months of price falls, prices rose again in May and June.
In June, factory gate prices in the manufacturing industry were 1.5 percent up on May 2008. Prices for products sold on the domestic market rose less rapidly than prices for exported products.
Factory gate prices