Factory gate prices in Dutch manufacturing were nearly 9 percent lower in October 2009 than in October 2008. The price drop was much less substantial than in September, when manufactured products were 12.5 percent cheaper than one year previously. Developments in oil prices were the main cause for the smaller decrease.
At 22 percent and 21 percent respectively, the most substantial price decreases were for products manufactured by the chemical industry and the basic metal industry. Petroleum-related products were also much cheaper than one year previously. However, at minus 16 percent, prices in the petroleum sector fell by much less than in September, when they were 34 percent down on twelve months previously. Prices in the petroleum sector are seriously affected by the price of crude oil. The euro price of a barrel of North Sea Brent oil was 11.5 percent down on one year previously. In September, crude oil was 33 percent cheaper than last year.
In a few branches, prices were higher in October than twelve months previously. Tobacco products cost 8 percent more, and prices of furniture and drinks were also higher than in October 2008.
Prices were 0.5 percent higher in October than in September. Prices on the domestic market were almost the same as those in the previous month. Products sold on the foreign market were 0.7 percent more expensive.
Factory gate prices