Rise in factory gate prices far less substantial

Factory gate prices of Dutch manufactured products were more than 4 percent higher in October than twelve months previously. In September, prices rose by over 9 percent. Since July, price increases have slowed down considerably.

Compared with September 2008, factory gate prices in manufacturing industry dropped by nearly 4 percent. A decrease in this order of magnitude on the preceding month is quite exceptional. Prices for exported products dropped further than prices for products sold on the domestic market.

Relative to October 2007, factory prices rose most sharply by 10 percent in the chemical industry, but the increase was less substantial then in the preceding four months. Prices for basic metal products were raised by 7.5 percent in October compared to twelve months ago. October’s price increase is marginally down on the price increase in September.

With 3 percent, selling prices in the petroleum processing and refining industry rose only marginally relative to twelve months previously, after a substantial increase in preceding months. Price developments in this sector are affected by the price of crude oil. The price in euro of a barrel of North Sea Brent oil was on average 3 percent lower in October than twelve months previously.

Food prices were raised by less than 1 percent in October. The price increase for food products has slowed down further. Early 2008, prices increased by nearly 13 percent.

Factory gate prices