Manufacturing output prices almost 4 percent up in May

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 3.7 percent up in May 2018 year-on-year. The price increase was higher than in the previous month, when prices in manufacturing were 1 percent higher.

Producer prices (year-on-year % change)
   mutatie
2014J0.1
J-0.5
A-1
S-1
O-1.2
N-2.6
D-5.7
2015J-7.5
F-6.1
M-4.5
A-3.8
M-3.3
J-3.5
J-4.1
A-5.7
S-6.5
O-6.2
N-4.7
D-3.3
2016J-2.7
F-5
M-5.4
A-5.9
M-5.3
J-4.5
J-4.2
A-2.2
S-0.7
O1.5
N1
D4.4
2017J7
F8.6
M7.7
A7.5
M4.9
J3
J3.1
A3.6
S4.1
O2.8
N3.8
D2.1
18J1.5
F0.3
M0.6
A1
M3.7

Price increase crude oil higher

In May 2018, the price of a barrel of North Sea Brent oil was over 65 euros, over 40 percent higher than in May 2017. In April 2018, the crude oil barrel price stood at 58.5 euros, over 16 percent up on April 2017.

Output prices are strongly affected by crude oil price developments. In May, prices of petroleum derivatives increased by 33.5 percent year-on-year. In April, prices increased by over 11 percent year-on-year.

In the chemical industry as well, output prices are affected by changes in the price of crude oil. In May, output prices of chemical products were 3 percent higher than in the same month last year. In April, prices decreased by 0.5 percent year-on-year.

Furthermore, prices in the automotive industry as well as prices of metal products, rubber and plastic products and of machinery were higher than twelve months previously. On the other hand, prices of electronic products and food products as well as average prices in the branch repair and installation of machinery were below the level of twelve months previously.

Producer prices manufacturing by sector*, May 2018 (year-on-year % change)
 % change
Petroleum products33.5
Chemical products3
Cars1.5
Metal products1.4
Rubber and plastic1.1
Machinery0.9
Repair and installation of machinery-0.5
Electronic products-1.3
Food products-1.5
*Altogether, the nine industries referred to in the above text and the corresponding graph account for 80 percent of the total Dutch manufacturing industry

Prices of manufactured products rose in May

Prices of manufactured products rose by 1.4 percent in May relative to April. Prices on the domestic market increased by 0.9 percent, prices on the foreign market by 1.8 percent.

Index producer prices (2015=100)
   index
2014J106.4
J106.4
A105.9
S105.7
O104.6
N103.2
D100.1
2015J98.2
F99.7
M100.9
A102
M102.7
J102.7
J102
A99.9
S98.8
O98
N98.3
D96.8
2016J95.5
F94.7
M95.5
A96
M97.2
J98.1
J97.7
A97.6
S98.1
O99.5
N99.3
D101
2017J102.2
F102.9
M102.8
A103.2
M102
J101.1
J100.7
A101.1
S102.1
O102.3
N103.1
D103.1
2018J103.7
F103.2
M103.5
A104.3
M105.7

Sources

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