Manufacturing output prices down

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products decreased by 1.6 percent in October 2019 year-on-year. The price decrease was larger than in the previous month, when prices were down by 0.7 percent.

Producer prices (year-on-year % change)
YearMonthchange
2015November-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
September-0.7
October-1.6

Larger decrease in crude oil price

In October 2019, the price of a barrel of crude North Sea Brent oil was 54 euros, 23 percent lower than in October 2018. In September 2019, the crude oil barrel price stood at 56 euros, around 17 percent down on September 2018.

Output prices are strongly affected by crude oil price developments. In October, prices of petroleum derivatives decreased by 18.0 percent year-on-year. Prices were down by 12.0 percent in September.

In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 7.0 percent lower in October than in the same month last year. In September, prices decreased by 6.5 percent year-on-year.

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

Producer prices manufacturing by sector*, October 2019 (year-on-year % change)
Categoriy% change
Metal products3.1
Electronic products2.8
Machinery2.8
Cars2
Food products1.7
Rubber and plastic-0.1
Chemical products-7
Petroleum products-18
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products decreased in October

Manufacturing output prices fell by 0.2 percent in October relative to September. They increased by 0.5 percent on the domestic market, but decreased by 0.7 percent on the export market.

Index producer prices (2015=100)
YearMonth(2015=100)
2015November98.3
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
September106.1
October105.9

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

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