Manufacturing output prices down in August

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products decreased by 0.8 percent year-on-year in August 2019. Prices were down for the first time in three years. In July, prices hardly changed on the previous year.

Producer prices (year-on-year % change)
YearMonthchange
2015September-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
June0.4
July0.1
August-0.8

Larger decrease crude oil prices

In August 2019, the price of a barrel of crude North Sea Brent oil was 53.5 euros, over 16 percent lower than in August 2018. In July 2019, the crude oil barrel price stood at approximately 57 euros, almost 11 percent down on July 2018.

Output prices are strongly affected by crude oil price developments. In August, prices of petroleum derivatives decreased by 13.6 percent year-on-year. Prices were down by 6.8 percent in July.

In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 5.1 percent lower in August than in the same month last year. In July, prices decreased by 4.5 percent year-on-year.

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

Producer prices manufacturing by sector*, August 2019 (year-on-year % change)
 % change
Electronic products2.6
Machinery2.3
Metal products2.1
Food products1.9
Cars1.3
Rubber and plastic0.6
Chemical products-5.1
Petroleum products-13.6
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products decreased in August

Manufacturing output prices fell by 0.7 percent in August relative to July. They decreased by 1.3 percent on the export market and remained the same on the domestic market.

Index producer prices (2015=100)
YearMonth(2015=100)
2015September98.8
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
May107.9
June106.5
July106.3
August105.5

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

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