Largest price increase manufacturing in nearly 6 years

Statistics Netherlands (CBS) reports that prices of products manufactured in the Netherlands were more than 11 percent up in February 2017 from the same month last year. This is the most substantial price increase since July 2011. Prices in the petroleum industry were noticeably higher in February. If price developments in the petroleum industry are not taken into account, the price increase in February was almost 7 percent.

Selling prices
Selling prices
 % change
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 J9.4
17 F11.4

Higher crude oil and output prices

In February this year, the price of a barrel of North Sea Brent oil was nearly 53 euros, i.e. 74 percent up from the price level recorded in February 2016. In January, the price increase was 78 percent on a year-on-year basis.

Prices of petroleum derivatives are directly affected by crude oil price developments. Year-on-year, the price increase was nearly 63 percent in February, versus nearly 61 percent in January.

Prices of chemical products were about 19 percent higher on an annual basis. In the chemical industry, too, prices are affected by crude oil price developments. Prices in the basic metal industry rose by 13 percent, due to the growing demand for basic metals and relatively low stock levels.

Prices of food and 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 products62.9
Chemical products18.7
Basic metal products13
Food products7.2
Metal products3.7
Cars0.8
Rubber and plastic-0.3
Machine-3.5
 

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 February than in January

Compared to January, the average price increase of manufactured products in February was approximately 1 percent. Prices on the foreign market rose by more than 1 percent, prices on the domestic market by almost 1 percent.

Index selling prices
Index selling prices
 index
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 J105.2
17 F106.2

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