Manufacturing output prices almost 7 percent up in March

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 6.8 percent up in March 2021 year-on-year. In the previous month, prices were 0.7 percent up.

Producer prices
YearMonthchange (year-on-year % change)
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
2021February0.7
2021March6.8

Significant increase in crude oil price

Output prices are strongly affected by crude oil price developments. In March 2021, the price of a barrel of crude North Sea Brent oil was over 55 euros, 77 percent higher than in March 2020. In February 2021, the crude oil barrel price stood at over 51 euros, approximately 1 percent down on February 2020.

In March, prices of petroleum derivatives were up by 55.4 percent year-on-year. Prices were down year-on-year by 3.5 percent in February. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 12.0 percent higher in March than in the same month last year. In February, prices increased by 2.5 percent year-on-year.

Prices in approximately 80 percent of the manufacturing sectors were higher in March 2021 than in the same month last year.

Producer prices manufacturing by sector*, March 2021
Category% change (year-on-year % change)
Petroleum products55.4
Chemical products12
Food products2.7
Rubber and plastic2.1
Metal products1.4
Cars1.2
Machinery0.2
Electronic products-2
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry
 

Prices of manufactured products increased in March

Manufacturing output prices rose by 2.0 percent in March relative to February. They increased by 1.9 percent on the export market and by 2.1 percent on the domestic market.

Index producer prices
YearMonth(2015=100) (2015=100)
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
2021January104.8
2021February107
2021March109.1