Manufacturing output prices over 5 percent down in September

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 5.3 percent down in September 2020 year-on-year. In the previous month, prices were 4.2 percent down.

Producer prices
YearMonthchange (year-on-year % change)
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
2020May-7.8
2020June-5.5
2020July-4.8
2020August-4.2
2020September-5.3

Larger decrease in crude oil price

Output prices are strongly affected by crude oil price developments. In September 2020, the crude oil barrel price stood at almost 36 euros, 36.5 percent down on September 2019. In August, the price of a barrel of crude North Sea Brent oil was 38 euros, 29 percent lower than in August 2019. 

In September, prices of petroleum derivatives decreased by 36.2 percent year-on-year. Prices were down by 26.8 percent in August. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 11.2 percent lower in September than in the same month last year. In August, prices decreased by 11.7 percent year-on-year.

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

Producer prices manufacturing by sector*, September 2020
Category% change (year-on-year % change)
Cars2.4
Metal products1
Machinery0.6
Food products0.3
Rubber and plastic-0.5
Electronic products-0.9
Chemical products-11.2
Petroleum products-36.2
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products decreased in September

Manufacturing output prices fell by 0.6 percent in September relative to August. They decreased by 1.0 percent on the export market, while prices remained the same on the domestic market.

Index producer prices
YearMonth(2015=100) (2015=100)
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
2020August101.1
2020September100.5

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