Manufacturing output prices hardly changed

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 0.1 percent up in July 2019 year-on-year. The increase was lower than in the previous month, when prices in manufacturing were up by 0.3 percent.

Producer prices (year-on-year % change)
YearMonthchange
2015August-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
June0.3
July0.1

Crude oil price down

In July 2019, the price of a barrel of crude North Sea Brent oil was over 57 euros, almost 11 percent lower than in July 2018. In June 2019, the crude oil barrel price stood at approximately 56 euros, 14 percent down on June 2018.

Output prices are strongly affected by crude oil price developments. In July, prices of petroleum derivatives decreased by 6.8 percent year-on-year. Prices were down by 8.9 percent in June.

In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 4.2 percent lower in July than in the same month last year. In June, prices decreased by 2.3 percent year-on-year.

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

Producer prices manufacturing by sector*, July 2019 (year-on-year % change)
 % change
Electronic products3
Metal products2.3
Machinery1.9
Food products1.6
Cars1.4
Rubber and plastic0.3
Chemical products-4.2
Petroleum products-6.9
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products decreased in July

Manufacturing output prices fell by 0.2 percent in July relative to June. They decreased by 0.4 percent on the domestic market and remained the same on the export market.

Index producer prices (2015=100)
YearMonth(2015=100)
2015August99.9
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
February105.3
March106.2
April107.7
May107.8
June106.4
July106.3

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

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