Manufacturing output prices almost 5 percent up

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 4.7 percent up in September 2018 year-on-year. The price increase was slightly lower than in the previous month, when prices in manufacturing were up by 5.2 percent.

Producer prices (year-on-year % change)
YearMonthchange
2014October-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
May3.7
June5
July5.4
August5.2
September4.7

Price increase crude oil virtually the same

In September 2018, the price of a barrel of crude North Sea Brent oil was almost 68 euros, nearly 46 percent higher than in September 2017. In August 2018, the crude oil barrel price stood at almost 64 euros, more than 45 percent up on August 2017.

Output prices are strongly affected by crude oil price developments. In September, prices of petroleum derivatives increased by over 29 percent year-on-year. The price increase in the preceding month was 34.5 percent.

In the chemical industry as well, output prices are generally linked to crude oil price developments . Output prices of chemical products were 8 percent higher in September than in the same month last year. The year-on-year price increase in August was over 9 percent.

Furthermore, prices in the automotive industry as well as prices of metal products, rubber and plastic products, machinery and of electrotechnical products were higher than in September 2017. On the other hand, prices of food products were below the level of one year previously.

Producer prices manufacturing by sector*, September 2018 (year-on-year % change)
 % change
Petroleum products29.2
Chemical products8
Electronic products2.1
Cars1.1
Rubber and plastic1.1
Metal products1.1
Machinery1.1
Food products-0.7
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products rose in September

Prices of manufactured products rose by 0.5 percent in September relative to August. Prices on the domestic market increased by 0.4 percent and prices on the foreign market by 0.6 percent.

Index producer prices (2015=100)
YearMonthindex
2014October104.6
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
April104.2
May105.7
June106.1
July106.2
August106.4
September106.9

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