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.
|Rubber and plastic||1.1|
|Repair and installation of machinery||-0.5|
|*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.