In July, selling prices of Dutch manufacturing industry were 0.7 percent below the level of July 2013. In June, prices were 0.3 percent up from twelve months previously. Prior to the increase in June, prices of manufactured products had fallen continually for a long period of time. According to Statistics Netherlands, prices of manufactured products are seriously affected by oil price developments.
Oil prices down in July
Prices of petroleum derivatives were 4.6 percent down in July 2014 from July 2013. In June, prices of petroleum derivatives were 1.6 percent up from twelve months previously. This was the first price increase in eighteen months. Prices in this sector are strongly affected by crude oil prices.
Oil prices fell in July, after having increased for several months. The price of a barrel of North Sea Brent oil was just under 80 euros in July, i.e. 3 percent down from July 2013. In June, the price was more than 82 euros, i.e.5 percent up from twelve months previously.
Electrical products (1.6 percent) and food, drinks and tobacco products (0.3 percent) were also cheaper in July than in July 2013. Prices of chemical products (0,5 percent), basis metal products (0.7 percent) and metal products (0.3 percent), on the other hand, were higher than in July last year.
Prices of manufactured products 0.2 percent down in July from June
In July, selling prices of manufactured products fell by 0.2 percent relative to June 2014. Prices on the domestic market decreased marginally by 0.1 percent; prices on the foreign market decreased by 0.2 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.