Price increase in manufacturing industry slightly more substantial

30/08/2012 09:30

Selling prices in Dutch manufacturing industry were 1.7 percent higher in July 2012 than in July 2011. The price increase was somewhat more substantial than in June, when prices of manufactured products had increased by 1.2 percent relative to one year previously. In the previous months, the increase in manufacturing prices had slowed down.

Factory gate prices

Factory gate prices

The higher price increase was mainly the result of price developments in the petroleum derivatives industry. In July, selling prices in this branch were up 7 percent on one year previously. The price increase was much more substantial than in June, when selling prices were only 2 percent higher than in June 2011.

Prices in the basic metal industry dropped for the sixth month running. In July, prices of basic metal products were down 6 percent on one year previously.

Index factory gate prices

Index factory gate prices

Compared to June, selling prices in manufacturing rose by 1.0 percent in July. With 1.1 percent, the price increase on the foreign market was slightly more substantial than the price increase on the domestic market (0.9 percent). Prices had dropped in the three preceding months. This is mainly due to developments in crude oil prices. Crude oil prices dropped in April, May and June, but rose in July.

More figures can be found in dossier Business cycle.