According to figures released by Statistics Netherlands today, selling prices of products manufactured in the Netherlands were 1.7 percent down in September 2014 from September 2013. In August, prices were 1.4 percent down from twelve months previously. Prices of manufactured products are seriously affected by oil prices developments.
Oil prices further down in September
Prices of petroleum derivatives were 6.1 percent down in September 2014 from September 2013. In August, prices of petroleum derivatives were 6.5 percent below the level of twelve months previously. Prices in this sector are strongly affected by crude oil prices.
Oil prices fell again in September, just as in July and August. The price of a barrel of North Sea Brent oil was more than 76 euros in September, i.e. more than 8 percent below the level of the same month last year. In August, oil prices were 6 percent lower than twelve months previously.
Food, drink and tobacco products were 1.5 percent cheaper in September than in September 2013. Products manufactured by the sectors paper and publishing (- 0.8 percent), electrical products and machinery (- 0.6 percent) and chemical products (- 1.4 percent) were also cheaper. Prices of wood and construction materials (+ 0.7 percent), textiles, clothing and leather products (+ 0.8 percent) and basic metal and metal products (+ 0.3 percent), on the other hand, were higher than in September last year.
Prices of manufactured products 0.3 percent down in September relative to August
In September, selling prices of manufactured products fell by 0.3 percent compared to August 2014. Prices on the domestic market decreased by 0.5 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.