Manufacturing output prices 0.6 percent up in February

30/03/2021 15:00

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Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 0.6 percent up in February 2021 year-on-year. In the previous month, prices were 2.2 percent down.

Producer prices
Year	Month	change (year-on-year % change)
2017	March	7.7
2017	April	7.5
2017	May	4.9
2017	June	3
2017	July	3.1
2017	August	3.6
2017	September	4.1
2017	October	2.8
2017	November	3.8
2017	December	2.1
2018	January	1.5
2018	February	0.3
2018	March	0.6
2018	April	1
2018	May	3.7
2018	June	5
2018	July	5.4
2018	August	5.2
2018	September	4.8
2018	October	5.3
2018	November	2.7
2018	December	0.6
2019	January	1
2019	February	2.1
2019	March	2.6
2019	April	3.3
2019	May	2
2019	June	0.4
2019	July	0.1
2019	August	-0.8
2019	September	-0.7
2019	October	-1.5
2019	November	0.2
2019	December	2.9
2020	January	2.2
2020	February	0.9
2020	March	-3.8
2020	April	-8
2020	May	-7.8
2020	June	-5.5
2020	July	-4.8
2020	August	-4.2
2020	September	-5.3
2020	October	-5
2020	November	-4.6
2020	December	-4.1
2021	January	-2.1
2021	February	0.6

Producer prices
Year	Month	change (year-on-year % change)
2017	March	7.7
2017	April	7.5
2017	May	4.9
2017	June	3
2017	July	3.1
2017	August	3.6
2017	September	4.1
2017	October	2.8
2017	November	3.8
2017	December	2.1
2018	January	1.5
2018	February	0.3
2018	March	0.6
2018	April	1
2018	May	3.7
2018	June	5
2018	July	5.4
2018	August	5.2
2018	September	4.8
2018	October	5.3
2018	November	2.7
2018	December	0.6
2019	January	1
2019	February	2.1
2019	March	2.6
2019	April	3.3
2019	May	2
2019	June	0.4
2019	July	0.1
2019	August	-0.8
2019	September	-0.7
2019	October	-1.5
2019	November	0.2
2019	December	2.9
2020	January	2.2
2020	February	0.9
2020	March	-3.8
2020	April	-8
2020	May	-7.8
2020	June	-5.5
2020	July	-4.8
2020	August	-4.2
2020	September	-5.3
2020	October	-5
2020	November	-4.6
2020	December	-4.1
2021	January	-2.1
2021	February	0.6

Increase in crude oil price

Output prices are strongly affected by crude oil price developments. In February 2021, the price of a barrel of crude North Sea Brent oil was over 51 euros, circa around 1 percent higher than in February 2020. In January 2021, the crude oil barrel price stood at over 45 euros, almost 21 percent down on January 2020.

In February, prices of petroleum derivatives decreased by 3.1 percent year-on-year. Prices were down by 19.4 percent in January. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 2.2 percent higher in February than in the same month last year. In January, prices decreased by 2.2 percent year-on-year.

Prices in more than half of the manufacturing sectors were higher in February 2021 than in the same month last year.

Producer prices manufacturing by sector*, February 2021
Category	% change (year-on-year % change)
Chemical products	2.2
Food products	1.2
Cars	1.1
Rubber and plastic	1
Metal products	0.9
Machinery	0
Electronic products	-2.9
Petroleum products	-3.1

*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Producer prices manufacturing by sector*, February 2021
Category	% change (year-on-year % change)
Chemical products	2.2
Food products	1.2
Cars	1.1
Rubber and plastic	1
Metal products	0.9
Machinery	0
Electronic products	-2.9
Petroleum products	-3.1

*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products increased in February

Manufacturing output prices rose by 2.1 percent in February relative to January. They increased by 2.3 percent on the export market and by 1.9 percent on the domestic market.

Index producer prices
Year	Month	(2015=100) (2015=100)
2017	March	102.8
2017	April	103.2
2017	May	102
2017	June	101.1
2017	July	100.7
2017	August	101.1
2017	September	102.1
2017	October	102.3
2017	November	103.1
2017	December	103.1
2018	January	103.7
2018	February	103.2
2018	March	103.5
2018	April	104.2
2018	May	105.7
2018	June	106.1
2018	July	106.2
2018	August	106.4
2018	September	107.1
2018	October	107.7
2018	November	105.9
2018	December	103.7
2019	January	104.7
2019	February	105.3
2019	March	106.2
2019	April	107.7
2019	May	107.9
2019	June	106.5
2019	July	106.3
2019	August	105.5
2019	September	106.1
2019	October	106
2019	November	106.1
2019	December	106.7
2020	January	107
2020	February	106.3
2020	March	102.2
2020	April	99.1
2020	May	99.4
2020	June	100.6
2020	July	101.2
2020	August	101.1
2020	September	100.5
2020	October	100.8
2020	November	101.2
2020	December	102.3
2021	January	104.7
2021	February	106.9

Index producer prices
Year	Month	(2015=100) (2015=100)
2017	March	102.8
2017	April	103.2
2017	May	102
2017	June	101.1
2017	July	100.7
2017	August	101.1
2017	September	102.1
2017	October	102.3
2017	November	103.1
2017	December	103.1
2018	January	103.7
2018	February	103.2
2018	March	103.5
2018	April	104.2
2018	May	105.7
2018	June	106.1
2018	July	106.2
2018	August	106.4
2018	September	107.1
2018	October	107.7
2018	November	105.9
2018	December	103.7
2019	January	104.7
2019	February	105.3
2019	March	106.2
2019	April	107.7
2019	May	107.9
2019	June	106.5
2019	July	106.3
2019	August	105.5
2019	September	106.1
2019	October	106
2019	November	106.1
2019	December	106.7
2020	January	107
2020	February	106.3
2020	March	102.2
2020	April	99.1
2020	May	99.4
2020	June	100.6
2020	July	101.2
2020	August	101.1
2020	September	100.5
2020	October	100.8
2020	November	101.2
2020	December	102.3
2021	January	104.7
2021	February	106.9

Sources

StatLine - Producer Price Index
StatLine - Producer Price Index (PPI); output and importprices by product

Increase in crude oil price

Prices of manufactured products increased in February

Sources

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