Manufacturing output prices 0.6 percent up in February

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
YearMonthchange (year-on-year % change)
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-5
2020November-4.6
2020December-4.1
2021January-2.1
2021February0.6

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 products2.2
Food products1.2
Cars1.1
Rubber and plastic1
Metal products0.9
Machinery0
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
YearMonth(2015=100) (2015=100)
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
2020October100.8
2020November101.2
2020December102.3
2021January104.7
2021February106.9