Manufacturing output prices almost 5 percent down in October

© Hollandse Hoogte / Westend61 GmbH
Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 4.7 percent down in October 2020 year-on-year. In the previous month, prices were 5.2 percent down.

Producer prices
YearMonthchange (year-on-year % change)
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-5.2
2020October-4.7

Slightly smaller decrease in crude oil price

Output prices are strongly affected by crude oil price developments. In October, the price of a barrel of crude North Sea Brent oil was 35.4 euros, over 34 percent lower than in October 2019. In September 2020, the crude oil barrel price stood at 35.6 euros, 36.5 percent down on September 2019. 

In October, prices of petroleum derivatives decreased by 32.8 percent year-on-year. Prices were down by 36.2 percent in September. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 10.8 percent lower in October than in the same month last year. In September, prices also decreased by 10.8 percent year-on-year.

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

Producer prices manufacturing by sector*, October 2020
Category% change (year-on-year % change)
Cars1.7
Food products0.5
Machinery0.3
Metal products0.2
Rubber and plastic-0.5
Electronic products-1.1
Chemical products-10.8
Petroleum products-32.8
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products increased in October

Manufacturing output prices rose by 0.4 percent in October relative to September. They increased by 0.6 percent on the export market and by 0.2 percent on the domestic market.

Index producer prices
YearMonth(2015=100) (2015=100)
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
2020September100.6
2020October101

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