Manufacturing output prices over 1 percent up in April

30/05/2018 15:00
© Hollandse Hoogte
Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 1.1 percent up in April 2018 year-on-year. The price increase was slightly higher than in the previous month, when prices in manufacturing were 0.6 percent higher.

Price increase crude oil higher

In April 2018, the price of a barrel of North Sea Brent oil was 58.50 euros, over 16 percent higher than in April 2017. In March 2018, the crude oil barrel price stood at 54 euros, 10 percent up on March 2017.

Output prices are strongly affected by crude oil price developments. In April, prices of petroleum derivatives increased by over 11 percent year-on-year. In March, prices increased by almost 4 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 the same as one year previously. In March, prices decreased almost 1 percent year-on-year.

Just as in the petroleum industry, the price increase of metal products as well as the price increase in the automotive industry was higher than average in manufacturing. Prices of rubber and plastic products as well as prices in the machinery industry were also higher year-on-year.

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 April

Prices of manufactured products rose by 0.8 percent in April relative to March. Prices on the domestic market increased by 0.8 percent, prices on the foreign market by 0.7 percent.

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