Manufacturing output prices almost 5 percent down in July

© Shutterstock / Tjeerd Kruse
Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 4.9 percent down in July 2020 year-on-year. In the previous month, prices were 5.5 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
2020February0.9
2020March-3.8
2020April-8.1
2020May-7.8
2020June-5.5
2020July-4.9

Decrease in crude oil price slightly smaller

Output prices are strongly affected by crude oil price developments. In July 2020, the crude oil barrel price stood at nearly 38 euros, over 34 percent down on July 2019. In June, the price of a barrel of crude North Sea Brent oil was 36 euros, over 35 percent lower than in June 2019. 

In July, prices of petroleum derivatives decreased by 30.3 percent year-on-year. Prices were down by 32.4 percent in June. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 13.1 percent lower in July than in the same month last year. In June, prices decreased by 17.3 percent year-on-year.

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

Producer prices manufacturing by sector*, July 2020
Categoriy% change (year-on-year % change)
Cars2.7
Machinery1.2
Metal products1.1
Electronic products0.3
Food products0.2
Rubber and plastic-0.8
Chemical products-13.1
Petroleum products-30.3
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products increased in July

Manufacturing output prices rose by .5 percent in July relative to June. They increased by 0.5 percent on both the domestic and the export market.

Index producer prices
YearMonth(2015=100) (2015=100)
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
2020February106.3
2020March102.2
2020April99.1
2020May99.4
2020June100.6
2020July101.1

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