Largest price increase manufacturing in 5 years

Statistics Netherlands (CBS) reports that prices of products manufactured in the Netherlands were 9.5 percent up in January 2017 on a year-on-year basis. This is the largest price increase since October 2011. In particular prices in the petroleum industry were higher. If price developments in the petroleum industry are not taken into account, the price increase in January was 4.8 percent.

Selling prices
Selling prices
 % change
2013 F1.1
2013 M-0.9
2013 A-2.2
2013 M-1.6
2013 J0
2013 J-0.4
2013 A-2.3
2013 S-2.8
2013 O-3.5
2013 N-2.7
2013 D-1.7
2014 J-2.2
2014 F-3
2014 M-2.8
2014 A-1
2014 M-0.5
2014 J0.3
2014 J-0.7
2014 A-1.4
2014 S-1.6
2014 O-2
2014 N-3.7
2014 D-8
2015 J-10.6
2015 F-8.9
2015 M-6.7
2015 A-5.5
2015 M-4.9
2015 J-5.3
2015 J-6
2015 A-8.1
2015 S-9.2
2015 O-8.9
2015 N-6.9
2015 D-5
2016 J-4.2
2016 F-7
2016 M-7.3
2016 A-8.2
2016 M-7.5
2016 J-6.1
2016 J-5.4
2016 A-3.4
2016 S-1.2
2016 O1.4
2016 N0.8
2016 D5.4
17 J9.5

Higher crude oil and output prices

In January 2017, the price of a barrel of North Sea Brent oil was more than 52 euros, i.e. nearly 78 percent up from the price level recorded in January 2016. In December, the year- on- year price increase of a barrel crude oil was nearly 46 percent.

Prices of petroleum derivatives are directly affected by crude oil price developments. On an annual basis, prices of petroleum derivatives rose by 60.7 percent in January whereas in December the year-on-year price increase was 35.2 percent.

Prices of chemical products increased by 11.8 percent. In the chemical industry, prices are also affected by crude oil price developments. Prices in the basic metal industry rose by 9.6 percent, due to the increasing demand for basic metals and relatively low stocks.

Prices of food products, metal products and prices in the automotive industry were also higher than one year ago. This is partly due to higher prices for agricultural raw materials and metals. Prices of rubber and plastic products and machinery, on the other hand, were below the level of twelve months previously.

Selling prices manufacturing by sector
Selling prices manufacturing by sector
 % change
Petroleum products60.7
Chemical products11.8
Basic metal products9.6
Food products6.5
Metal products2.9
Cars0.9
Rubber and plastic-0.1
Machine-3.7

Altogether, the eight industries referred to in the above text and the corresponding graph account for 80 percent of total Dutch manufacturing industry.

Manufactured products more expensive in January than in December

Compared to December, prices of manufactured products rose, on average, by 1.6 percent on a month-on-month basis. Prices on the domestic market rose by 1.8 percent, prices on the foreign market by 1.4 percent. The crude oil price also rose in the same period.

Index selling prices
Index selling prices
 index
2013 F115.9
2013 M114.8
2013 A113.2
2013 M112.8
2013 J112.3
2013 J113.2
2013 A113.4
2013 S113.4
2013 O112.2
2013 N112.1
2013 D112.5
2014 J112.4
2014 F112.5
2014 M111.6
2014 A112.1
2014 M112.2
2014 J112.6
2014 J112.4
2014 A111.9
2014 S111.5
2014 O109.9
2014 N108
2014 D103.5
2015 J100.4
2015 F102.5
2015 M104.1
2015 A105.9
2015 M106.8
2015 J106.6
2015 J105.7
2015 A102.8
2015 S101.3
2015 O100.2
2015 N100.5
2015 D98.3
2016 J96.2
2016 F95.3
2016 M96.5
2016 A97.3
2016 M98.8
2016 J100.1
2016 J99.9
2016 A99.4
2016 S100.1
2016 O101.6
2016 N101.3
2016 D103.7
17 J105.4

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