Manufacturing output prices 2 percent up in May

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 2 percent up in May 2019 year-on-year. The increase was lower than in the previous month, when prices in manufacturing were up by 3.3 percent.

Producer prices (year-on-year % change)
YearMonthchange
2015June-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
March2.6
April3.3
May2

Crude oil price up

In May 2019, the price of a barrel of crude North Sea Brent oil was approximately 63 euros, almost 4 percent lower than in May 2018. In April 2019, the crude oil barrel price stood at almost 64 euros, almost 9 percent up on April 2018.

Output prices are strongly affected by crude oil price developments. In May, prices of petroleum derivatives increased by 0.2 percent year-on-year. Prices were up by over 10 percent in April.

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 higher in May than in the same month last year. In April, prices increased by 1.3 percent year-on-year.

Prices in most sectors of manufacturing were higher in May 2019 than in the same month one year previously.

Producer prices manufacturing by sector*, May 2019 (year-on-year % change)
 % change
Electronic products3.7
Metal products2.7
Cars2.6
Machinery2.3
Food products1.7
Chemical products0.6
Rubber and plastic0.3
Petroleum products0.2
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products hardly increased in May

Manufacturing output prices rose by 0.1 percent in May relative to April. They increased by 0.4 percent on the domestic market, but decreased by 0.2 percent on the export market.

Index producer prices (2015=100)
YearMonth(2015=100)
2015June102.7
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
August106.4
September107.1
October107.7
November105.9
December103.7
2019January104.7
February105.4
March106.2
April107.7
May107.8

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

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