According to figures released by Statistics Netherlands today, selling prices of Dutch manufactured products were 1.3 percent lower in August 2014 than in August 2013. In July, prices were 0.7 percent down from twelve months previously. Prices of manufactured products are affected by developments in oil prices.
Oil prices down in August
Prices of petroleum derivatives were 6.2 percent down in August 2014 from August 2013. In July, prices of petroleum derivatives were 4.6 percent lower than twelve months previously. Prices in this sector are strongly affected by crude oil prices.
Oil prices fell in August. The price of a barrel of North Sea Brent oil was 77 euros in August, more than 6 percent lower than in 2013. In July, the price was nearly 80 euros, 3 percent lower than twelve months previously.
Food, drink and tobacco products were 1 percent cheaper in August than in August 2013. Electrical products and machinery (-0.7 percent) and chemical products (-0.2 percent) were also cheaper. Prices of wood and construction materials (+0.7 percent), textiles, clothing and leather products (+0.6 percent) and base metal and metal products (+0.2 percent), on the other hand, were higher than in August last year.
Prices of manufactured products 0.4 percent down in August from July
In August, selling prices of manufactured products fell by 0.4 percent compared with July 2014. Prices on the domestic market decreased by 0.7 percent; prices on the foreign market by 0.2 percent.
Index selling prices
More figures can be found in the Business cycle dossier.
For more information on economic indicators, see the Economic Monitor.