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
YearMonthchange (year-on-year % change)
2015January-7.5
2015February-6.1
2015March-4.5
2015April-3.8
2015May-3.3
2015June-3.5
2015July-4.1
2015August-5.7
2015September-6.5
2015October-6.2
2015November-4.7
2015December-3.3
2016January-2.7
2016February-5
2016March-5.4
2016April-5.9
2016May-5.3
2016June-4.5
2016July-4.2
2016August-2.2
2016September-0.7
2016October1.5
2016November1
2016December4.4
2017January7
2017February8.6
2017March7.7
2017April7.5
2017May4.9
2017June3
2017July3.1
2017August3.6
2017September4.1
2017October2.8
2017November3.8
2017December2.1
2018January1.5
2018February0.3
2018March0.6
2018April1
2018May3.7
2018June5
2018July5.4
2018August5.2
2018September4.7
2018October5.3
2018November2.7
2018December0.6

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
 % change (year-on-year % 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
YearMonthindex (2015=100)
2015January98.2
2015February99.7
2015March100.9
2015April102
2015May102.7
2015June102.7
2015July102
2015August99.9
2015September98.8
2015October98
2015November98.3
2015December96.8
2016January95.5
2016February94.7
2016March95.5
2016April96
2016May97.2
2016June98.1
2016July97.7
2016August97.6
2016September98.1
2016October99.5
2016November99.3
2016December101
2017January102.2
2017February102.9
2017March102.8
2017April103.2
2017May102
2017June101.1
2017July100.7
2017August101.1
2017September102.1
2017October102.3
2017November103.1
2017December103.1
2018January103.7
2018February103.2
2018March103.5
2018April104.2
2018May105.7
2018June106.1
2018July106.2
2018August106.3
2018September106.9
2018October107.7
2018November105.9
2018December103.7

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

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