Selling prices of Dutch manufacturing industry were 0.8 percent lower in April 2014 than in April 2013. In February and March, prices of manufactured products were respectively 2.9 and 2.7 percent down from twelve months previously. According to Statistics Netherlands, oil price developments accounted for the fact that the price decrease in April was less substantial than in the preceding months.
Oil prices drop less rapidly
Prices of petroleum derivatives were 1.3 percent lower in April than twelve months previously. In March, prices fell by 7.9 percent relative to March 2013. Price developments in this sector are strongly affected by crude oil prices. The price in euros of a barrel of North Sea Brent oil was 1.5 percent lower in April 2014 than twelve months previously, whereas prices fell by 7.7 percent in March. If prices for petroleum derivatives are not taken into account, selling prices of manufactured products were 0.7 percent lower in April 2014 than in April 2013.
Apart from prices of petroleum derivatives, prices of basic metal products (2.7percent), chemical products (1.8 percent) were also down from the same month last year. Prices of food, drinks and tobacco products remained fairly stable (-0.1 percent).
Selling prices up in April relative to March
Selling prices of manufactured products were 0.5 percent higher in April than in March 2014. Prices on the domestic market rose by 0.7 percent and prices on the foreign market by 0.3 percent.
Index selling prices
More figures can be found in dossier Business cycle.For more information on economic indicators, the reader is referred to the Economic Monitor.