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)
 change
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
2018 May3.7
2018 June5
2018 July5.4
2018 August5.1
2018 September4.7
2018 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)
 index
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 April104.2
2018 May105.7
2018 June106.1
2018 July106.2
2018 August106.3
2018 September106.9
2018 October107.7

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