Manufacturing output prices over 5 percent down in June

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© Hollandse Hoogte / Westend61 GmbH
Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 5.4 percent down in June 2020 year-on-year. In the previous month, prices were 7.9 percent down.

Producer prices
YearMonthchange (year-on-year % change)
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-7.9
2020June-5.4

Smaller decrease in crude oil price

Output prices are strongly affected by crude oil price developments. In June 2020, the crude oil barrel price stood at approximately 36 euros, over 35 percent down on June 2019. In May, the price of a barrel of crude North Sea Brent oil was 30 euros, almost 53 percent lower than in May 2019.

In June, prices of petroleum derivatives decreased by 30.5 percent year-on-year. Prices were down by 49.4 percent in May. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 17.8 percent lower in June than in the same month last year. In May, prices decreased by 19.7 percent year-on-year.

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

Producer prices manufacturing by sector*, June 2020
Categoriy% change (year-on-year % change)
Cars2.6
Machinery1.6
Metal products1.3
Electronic products1
Food products1
Rubber and plastic-1
Chemical products-17.8
Petroleum products-30.5
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products increased in June

Manufacturing output prices rose by 1.4 percent in June relative to May. They increased by 0.9 percent on the domestic market and by 1.9 percent on the export market.

Index producer prices
YearMonth(2015=100) (2015=100)
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
2020March102.2
2020April99.1
2020May99.3
2020June100.7