Manufacturing output prices 8 percent down in May

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 8.0 percent down in May 2020 year-on-year. In the previous month, prices were 8.1 percent down.

Producer prices
YearMonthchange (year-on-year % change)
2016June-4.5
2016July-4.2
2016August-2.2
2016September-0.7
2016October1.5
2016November1
2016December4.4
2017January7
2017February8.6
2017March7.7
2017April7.5
2017May4.9
2017June3
2017July3.1
2017August3.6
2017September4.1
2017October2.8
2017November3.8
2017December2.1
2018January1.5
2018February0.3
2018March0.6
2018April1
2018May3.7
2018June5
2018July5.4
2018August5.2
2018September4.8
2018October5.3
2018November2.7
2018December0.6
2019January1
2019February2.1
2019March2.6
2019April3.3
2019May2
2019June0.4
2019July0.1
2019August-0.8
2019September-0.7
2019October-1.5
2019November0.2
2019December2.9
2020January2.2
2020February0.8
2020March-3.8
2020April-8.1
2020May-8

Smaller decrease in crude oil price

Output prices are strongly affected by crude oil price developments. In May 2020, the crude oil barrel price stood at approximately 30 euros, almost 53 percent down on May 2019. In April, the price of a barrel of crude North Sea Brent oil was almost 25 euros, over 61 percent lower than in April 2019.

In May, prices of petroleum derivatives decreased by 49.4 percent year-on-year. Prices were down by 57.8 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 20.0 percent lower in May than in the same month last year. In April, prices decreased by 16.0 percent year-on-year.

Prices in slightly more than half of the manufacturing sectors were higher in May 2020 than in the same month last year.

Producer prices manufacturing by sector*, May 2020
Categoriy% change (year-on-year % change)
Cars2.7
Machinery1.8
Electronic products1.7
Metal products1.6
Food products1.3
Rubber and plastic-1.3
Chemical products-20
Petroleum products-49.4
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products increased in May

Manufacturing output prices rose by 0.3 percent in May relative to April. They decreased by 0.2 percent on the domestic market and increased by 0.7 percent on the export market.

Index producer prices
YearMonth(2015=100) (2015=100)
2016June98.1
2016July97.7
2016August97.6
2016September98.1
2016October99.5
2016November99.3
2016December101
2017January102.2
2017February102.9
2017March102.8
2017April103.2
2017May102
2017June101.1
2017July100.7
2017August101.1
2017September102.1
2017October102.3
2017November103.1
2017December103.1
2018January103.7
2018February103.2
2018March103.5
2018April104.2
2018May105.7
2018June106.1
2018July106.2
2018August106.4
2018September107.1
2018October107.7
2018November105.9
2018December103.7
2019January104.7
2019February105.3
2019March106.2
2019April107.7
2019May107.9
2019June106.5
2019July106.3
2019August105.5
2019September106.1
2019October106
2019November106.1
2019December106.7
2020January107
2020February106.2
2020March102.1
2020April99
2020May99.3

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