Price increase crude oil higher
In March 2018, the price of a barrel of North Sea Brent oil was 54 euros, 10 percent higher than in March 2017. In February 2018, the crude oil barrel price stood at 53 euros, almost 1 percent up on February 2017.
Output prices are strongly affected by crude oil price developments. In March, prices of petroleum derivatives increased by 4 percent year-on-year. In February, prices decreased by over 1 percent year-on-year.
In the chemical industry as well, output prices are affected by changes in the price of crude oil. Output prices of chemical products were almost 1 percent down in March year-on-year. In February, the average year-on-year price increase was 1 percent.
Just as in the petroleum industry, price increases of metal products, rubber and plastic products as well as in the automotive industry were also higher than the average price increase in manufacturing.
On the other hand, prices of electronic products and food products as well as prices in the branch repair and installation of machinery were below the level of twelve months previously.
Prices of manufactured products rose slightly in March
Prices of manufactured products rose by 0.3 percent in March relative to February. Prices on the domestic market as well as on the foreign market increased by 0.3 percent.