Manufacturing output prices over 4 percent down in August

© Hollandse Hoogte / Westend61 GmbH
Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 4.3 percent down in August 2020 year-on-year. In the previous month, prices were 4.9 percent down.

Producer prices
YearMonthchange (year-on-year % change)
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
2020August-4.3

Decrease in crude oil price smaller

Output prices are strongly affected by crude oil price developments. In August 2020, the crude oil barrel price stood at 38 euros, 29 percent down on August 2019. In July, the price of a barrel of crude North Sea Brent oil was almost 38 euros, over 34 percent lower than in July 2019. 

In August, prices of petroleum derivatives decreased by 26.8 percent year-on-year. Prices were down by 30.0 percent in July. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 11.7 percent lower in August than in the same month last year. In July, prices decreased by 13.1 percent year-on-year.

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

Producer prices manufacturing by sector*, August 2020
Categoriy% change (year-on-year % change)
Cars2.9
Metal products1.4
Machinery0.8
Food products0.1
Electronic products-0.7
Rubber and plastic-0.8
Chemical products-11.7
Petroleum products-26.8
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products decreased in August

Manufacturing output prices fell by 0.1 percent in August relative to July. They decreased by 0.3 percent on the domestic market, while prices remained the same on the export market.

Index producer prices
YearMonth(2015=100) (2015=100)
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
2020July101.2
2020August101

Related items