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)
 change
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 August5.2
2018 September4.7
2018 October5.3
2018 November2.7
2018 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)
 index
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
2018 November105.9
2018 December103.7

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

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