Manufacturing output prices over 5 percent up in July

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.

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.