Manufacturing output prices almost 1 percent up

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 0.6 percent up in December 2018 year-on-year. The price increase was smaller than in the previous month, when prices in manufacturing were up by 2.7 percent.

Producer prices (year-on-year % change)
YearMonthchange
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
December0.6

Crude oil price down

In December 2018, the price of a barrel of crude North Sea Brent oil was 51 euros, more than 5 percent lower than in December 2017. In November 2018, the crude oil barrel price stood at 58 euros, over 8 percent up on November 2017.

Output prices are strongly affected by crude oil price developments. In December, prices of petroleum derivatives decreased by over 5 percent year-on-year, whereas prices had increased by 9 percent in November.

In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 1.5 percent higher in December than in the same month last year. The year-on-year price increase in November exceeded 6 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 December 2017.

Producer prices manufacturing by sector*, December 2018 (year-on-year % change)
 % change
Cars2.6
Electronic products2.5
Chemical products1.5
Machinery1.4
Metal products1
Rubber and plastic0.7
Food products0.4
Petroleum products-5.2
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products decreased in December

Prices of manufactured products fell by over 2 percent in December relative to November. Prices on the domestic market decreased by 1.5 percent and on the export market by 2.5 percent.

Index producer prices (2015=100)
YearMonthindex
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
November105.9
December103.7

The figures in this publication are provisional and may be revised upwards or downwards.

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