Manufacturing output prices 2.5 percent up in March

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 2.5 percent up in March 2019 year-on-year. The price increase was higher than in the previous month, when prices in manufacturing were up by 2.1 percent.

Producer prices (year-on-year % change)
YearMonthchange
2015April-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
September4.8
October5.3
November2.7
December0.6
2019January1
February2.1
March2.5

Crude oil price up

In March 2019, the price of a barrel of crude North Sea Brent oil was over 59 euros, almost 10 percent higher than in March 2018. In February 2019, the crude oil barrel price stood at almost 57 euros, over 7 percent up on February 2018.

Output prices are strongly affected by crude oil price developments. In March, prices of petroleum derivatives increased by almost 12 percent year-on-year. In February, prices increased by almost 7 percent.

In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 0.6 percent lower in March than in the same month last year. In February, prices decreased by 1.5 percent year-on-year.

Prices in most other sectors of manufacturing were higher than in March 2018.

Producer prices manufacturing by sector*, March 2019 (year-on-year % change)
 % change
Petroleum products11.6
Electronic products5.1
Cars3.2
Machinery2
Metal products1.8
Food products0.1
Rubber and plastic0.1
Chemical products-0.6
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products increased in March

Prices of manufactured products rose by 0.7 percent in March relative to February. Prices on the domestic market increased by 0.5 percent and on the export market by 0.8 percent.

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