Manufacturing output prices almost 13 percent up in June

Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 12.6 percent up in June 2021 year-on-year. In the previous month, prices were 13.2 percent up.

Producer prices
YearMonthchange (year-on-year % change)
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-1.8
2021February0.9
2021March7.1
2021April12.3
2021May13.2
2021June12.6

Soaring crude oil prices

Output prices are strongly affected by crude oil price developments. In June 2021, the crude oil barrel price stood at almost 61 euros, approximately 69 percent up on June 2020. In May 2021, the price of a barrel of crude North Sea Brent oil was 56 euros, over 88 percent higher than in May 2020.

In June, prices of petroleum derivatives were up by 51.7 percent year-on-year. In May, they were up by 75.5 percent. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 34.8 percent higher in June than in the same month last year. In May, prices increased by 36.8 percent year-on-year.

Prices in almost all of the manufacturing industries were higher in June 2021 than in the same month last year.

Producer prices manufacturing by sector*, June 2021
Category% change (year-on-year % change)
Petroleum products51.7
Chemical products34.8
Rubber and plastic7.4
Food products6.9
Metal products3.9
Cars2
Machinery1.1
Electronic products-0.9
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products increased in June

Manufacturing output prices rose by 0.7 percent in June relative to May. They increased by 0.9 percent on the export market and by 0.4 percent on the domestic market.

Index producer prices
YearMonth(2015=100) (2015=100)
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
2021January105
2021February107.2
2021March109.4
2021April111.3
2021May112.5
2021June113.3