In the third quarter of 2008, prices of commercial services were 2.7 percent up on one year previously, the largest price increase in two years. Manufacturing prices rose much more rapidly by 10.7 percent. Today, Statistics Netherlands will release data on price developments for the entire sector commercial services.
Price developments in the sectors commercial services and manufacturing industry
Prices sector services less affected by prices for raw materials
The sector commercial services is less affected by rising prices for raw materials like petroleum. Wage increases have more effect on prices in the sector services. As a result, prices in the sector services vary less than in manufacturing industry. Still, oil price changes affect commercial services, notably the sector transport, storage and communication. Prices of overland transport services, for instance, have risen considerably in the first three quarters of 2008 as a result of higher fuel prices.
Auxiliary transport services and services provided by travel agencies have also become much more expensive. Prices of postal and communication services and waterway transport –on the other hand – are below the level of a few years ago.
Price changes in the sector transport, storage and communication
ICT services also more expensive
Prices in the sector property development and estate agents, leasing and other services are to a lesser extent affected by prices of raw materials than prices in the sector transport, storage and communication. Prices of ICT services have risen most notably in recent years, followed by other business services, e.g. accountancy, legal services and market research and opinion polls.
Prices property development and trade, renting and leasing and other business services