Manufacturing output prices over 5 percent up in July

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 5.4 percent up in July 2018 year-on-year. The price increase was slightly higher than in the previous month, when prices in manufacturing were 5.0 percent higher.

Producer prices (year on year % change)
 change
2014 August-1
2014 September-1
2014 October-1.2
2014 November-2.6
2014 December-5.7
2015 January-7.5
2015 February-6.1
2015 March-4.5
2015 April-3.8
2015 May-3.3
2015 June-3.5
2015 July-4.1
2015 August-5.7
2015 September-6.5
2015 October-6.2
2015 November-4.7
2015 December-3.3
2016 January-2.7
2016 February-5
2016 March-5.4
2016 April-5.9
2016 May-5.3
2016 June-4.5
2016 July-4.2
2016 August-2.2
2016 September-0.7
2016 October1.5
2016 November1
2016 December4.4
2017 January7
2017 February8.6
2017 March7.7
2017 April7.5
2017 May4.9
2017 June3
2017 July3.1
2017 August3.6
2017 September4.1
2017 October2.8
2017 November3.8
2017 December2.1
2018 January1.5
2018 February0.3
2018 March0.6
2018 April1.1
2018 May3.7
2018 June5
2018 July5.4

Price increase crude oil lower

In July 2018, the price of a barrel of North Sea Brent oil was 64 euros, over 50 percent higher than in July 2017. In June 2018, the crude oil barrel price stood at 65 euros, over 53 percent up on June 2017.

Output prices are strongly affected by crude oil price developments. In July, prices of petroleum derivatives increased by over 40 percent year-on-year. This price increase was the same as in the preceding month.

In the chemical industry as well, output prices are affected by changes in the price of crude oil. Output prices of chemical products were nearly 10 percent higher in July than in the same month last year. In June, prices increased by over 7 percent year-on-year.

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

Producer prices manufacturing by sector*, July 2018 (year-on-year % change)
 % change
Petroleum products40.1
Chemical products9.6
Cars2.1
Rubber and plastic1.5
Metal products1.3
Machinery0.9
Electronic products0.5
Repair and installation of machinery0.3
Food products-1.3
* Altogether, the nine industries referred to in the above tekst and the corresponding graph account for 80 percent of the total Dutch manufacturing industry

Prices of manufactured products equal to June

Prices of manufactured products in July were equal to June. Prices on the domestic market increased by 0.1 percent. Prices on the foreign market did not change.

Index selling prices (2015=100)
 index
2014 August105.9
2014 September105.7
2014 October104.6
2014 November103.2
2014 December100.1
2015 January98.2
2015 February99.7
2015 March100.9
2015 April102
2015 May102.7
2015 June102.7
2015 July102
2015 August99.9
2015 September98.8
2015 October98
2015 November98.3
2015 December96.8
2016 January95.5
2016 February94.7
2016 March95.5
2016 April96
2016 May97.2
2016 June98.1
2016 July97.7
2016 August97.6
2016 September98.1
2016 October99.5
2016 November99.3
2016 December101
2017 January102.2
2017 February102.9
2017 March102.8
2017 April103.2
2017 May102
2017 June101.1
2017 July100.7
2017 August101.1
2017 September102.1
2017 October102.3
2017 November103.1
2017 December103.1
2018 January103.7
2018 February103.2
2018 March103.5
2018 April104.3
2018 May105.8
2018 June106.2
2018 July106.2

Related items