Manufacturing output prices almost 3 percent up

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 2.7 percent up in November 2018 year-on-year. The price increase was smaller than in the previous month, when prices in manufacturing were up by 5.3 percent.

Producer prices (year-on-year % change)
YearMonthchange
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
October5.3
November2.7

Lower increase in crude oil price

In November 2018, the price of a barrel of crude North Sea Brent oil was 58 euros, more than 8 percent higher than in November 2017. In October 2018, the crude oil barrel price stood at over 70 euros, over 43 percent up on October 2017.

Output prices are strongly affected by crude oil price developments. In November, prices of petroleum derivatives increased by almost 9 percent year-on-year. The price increase in October was almost 35 percent.

In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 6 percent higher in November than in the same month last year. The year-on-year price increase in October was over 7 percent.

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

Producer prices manufacturing by sector*, November 2018 (year-on-year % change)
 % change
Petroleum products8.7
Chemical products6
Cars2.5
Electronic products1.9
Machinery1.3
Rubber and plastic0.9
Metal products0.7
Food products0.4
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products decreased in November

Prices of manufactured products fell by almost 2 percent in November relative to October. Prices on the domestic market decreased by over 1 percent and on the foreign market by 2 percent.

Index producer prices (2015=100)
YearMonthindex
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
November105.8

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