Manufacturing output prices over 5 percent up

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 5.3 percent up in October 2018 year-on-year. The price increase was higher than in the previous month, when prices in manufacturing were up by 4.7 percent.

Producer prices (year-on-year % change)
YearMonthchange
2014November-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
August5.1
September4.7
October5.3

Lower increase in crude oil price

In October 2018, the price of a barrel of crude North Sea Brent oil was over 70 euros, more than 43 percent higher than in October 2017. In September 2018, the crude oil barrel price stood at almost 68 euros, nearly 46 percent up on September 2017.

Output prices are strongly affected by crude oil price developments. In October, prices of petroleum derivatives increased by almost 35 percent year-on-year. The price increase in September was over 29 percent.

In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were over 7 percent higher in October than in the same month last year. The year-on-year price increase in September was 8 percent.

Furthermore, prices in the automotive industry as well as prices of electrotechnical products, rubber and plastic products, machinery, metal products, and food products were higher than in October 2017.

Producer prices manufacturing by sector*, October 2018 (year-on-year % change)
 % change
Petroleum products34.6
Chemical products7.3
Cars2.6
Electronic products2.1
Rubber and plastic1.2
Machinery1.2
Metal products0.9
Food products0.2
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products rose in October

Prices of manufactured products rose by 0.7 percent in October relative to September. Prices on the domestic market increased by 0.5 percent and on the foreign market by 0.8 percent.

Index producer prices (2015=100)
YearMonthindex
2014November103.2
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
August106.3
September106.9
October107.7

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