Manufacturing output prices 4.5 percent down in November

© Hollandse Hoogte
Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 4.5 percent down in November 2020 year-on-year. In the previous month, prices were 4.9 percent down.

Producer prices
YearMonthchange (year-on-year % change)
December4.4
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
2020October-4.9
2020November-4.5

Decrease in crude oil price virtually the same

Output prices are strongly affected by crude oil price developments. In November 2020, the crude oil barrel price stood at over 37 euros, 34.5 percent down on November 2019. In October, the price of a barrel of crude North Sea Brent oil was over 35 euros, 34.4 percent lower than in October 2019. 

In November, prices of petroleum derivatives decreased by 32.8 percent year-on-year. Prices were down by 33.9 percent in October. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 8.8 percent lower in November than in the same month last year. In October, prices decreased by 10.5 percent year-on-year.

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

Producer prices manufacturing by sector*, November 2020
Category% change (year-on-year % change)
Cars1.1
Food products0.3
Machinery0.2
Metal products0.2
Rubber and plastic-1
Electronic products-1.2
Chemical products-8.8
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 November

Manufacturing output prices rose by 0.4 percent in November relative to October. They increased by 0.5 percent on the export market and by 0.3 percent on the domestic market.

Index producer prices
YearMonth(2015=100) (2015=100)
December101
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
2020October100.9
2020November101.3