Selling prices of Dutch manufacturing industry were 0.5 percent lower in May 2014 than in May 2013. Prices of manufactured products have been down from twelve months previously for well over a year now, but price differences have become smaller in recent months. According to Statistics Netherlands, selling prices are strongly affected by oil price developments.
Rising oil prices
Prices of petroleum derivatives were 1.0 percent lower in May than twelve months previously. They have fallen far less rapidly over de past few months. 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 0.1 percent up in May 2014 from twelve months previously, a modest increase, but in previous months crude oil prices had fallen substantially.
Prices of basic metal products (1.5 percent) and prices of electro-technical products and machinery (0.7 percent) were also down from May last year. Prices of food, drinks and tobacco products were 0.6 percent lower. Prices of textiles, leather products and clothes, on the other hand, rose by 1.0 percent. Prices of wood and building materials and prices in the paper and printing industry were also marginally higher than twelve months previously.
Selling prices in May approximately at the same level as in April
Selling prices of manufactured products remained stable in May relative to April. Prices on the domestic market fell slightly, prices on the foreign market increased somewhat..
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.