Manufacturing output prices down again

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products decreased by 0.7 percent in September 2019 year-on-year. The price decrease was the same as in the previous month, when prices were down for the first time in almost 3 years

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-0.7
September-0.7
 

Larger decrease in crude oil price

In September 2019, the price of a barrel of crude North Sea Brent oil was more than 56 euros, over 17 percent lower than in September 2018. In August 2019, the crude oil barrel price stood at 53.5 euros, around 16 percent down on August 2018.

Output prices are strongly affected by crude oil price developments. In September, prices of petroleum derivatives decreased by 12.0 percent year-on-year. Prices were down by 13.4 percent in August.

In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 6.5 percent lower in September than in the same month last year. In August, prices decreased by 5.2 percent year-on-year.

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

Producer prices manufacturing by sector*, September 2019 (year-on-year % change)
 % change
Electronic products3.1
Cars2.9
Machinery2.6
Metal products2.5
Food products2.1
Rubber and plastic0.6
Chemical products-6.5
Petroleum products-12
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products increased in September

Manufacturing output prices rose by 0.6 percent in September relative to August. They increased by 0.1 percent on the domestic market, and by 0.9 on the export market.

Index producer prices (2015=100)
YearMonth(2015=100)
2015October98
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
August105.6
September106.2

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

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