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)
YearMonthchange
2014August-1
September-1
October-1.2
November-2.6
December-5.7
2015January-7.5
February-6.1
March-4.5
April-3.8
May-3.3
June-3.5
July-4.1
August-5.7
September-6.5
October-6.2
November-4.7
December-3.3
2016January-2.7
February-5
March-5.4
April-5.9
May-5.3
June-4.5
July-4.2
August-2.2
September-0.7
October1.5
November1
December4.4
2017January7
February8.6
March7.7
April7.5
May4.9
June3
July3.1
August3.6
September4.1
October2.8
November3.8
December2.1
2018January1.5
February0.3
March0.6
April1.1
May3.7
June5
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)
YearMonthindex
2014August105.9
September105.7
October104.6
November103.2
December100.1
2015January98.2
February99.7
March100.9
April102
May102.7
June102.7
July102
August99.9
September98.8
October98
November98.3
December96.8
2016January95.5
February94.7
March95.5
April96
May97.2
June98.1
July97.7
August97.6
September98.1
October99.5
November99.3
December101
2017January102.2
February102.9
March102.8
April103.2
May102
June101.1
July100.7
August101.1
September102.1
October102.3
November103.1
December103.1
2018January103.7
February103.2
March103.5
April104.3
May105.8
June106.2
July106.2

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