Manufacturing output prices over 20 percent up in October

30/11/2021 15:00

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Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 20.2 percent up in October 2021 year-on-year. In the previous month, prices were 17.0 percent up.

Producer prices
Year	Month	change (year-on-year % change)
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	-1.8
2021	February	0.9
2021	March	7.1
2021	April	12.3
2021	May	13.1
2021	June	12.6
2021	July	14
2021	August	15.1
2021	September	17
2021	October	20.2

Producer prices
Year	Month	change (year-on-year % change)
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	-1.8
2021	February	0.9
2021	March	7.1
2021	April	12.3
2021	May	13.1
2021	June	12.6
2021	July	14
2021	August	15.1
2021	September	17
2021	October	20.2

Soaring crude oil prices

Output prices are strongly affected by crude oil price developments. In October 2021, the crude oil barrel price stood at approximately 72 euros, more than double the amount in October 2020. In September, the price of a barrel of crude North Sea Brent oil was almost 64 euros on average, 78.5 percent higher than in the same month last year.

In October, prices of petroleum derivatives were up by 102.6 percent year-on-year. In September, they were up by 81.2 percent. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 39.4 percent higher in October than in the same month last year. In September, prices increased by 36.2 percent year-on-year.

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

Producer prices manufacturing by sector*, October 2021
Category	% change (year-on-year % change)
Petroleum products	102.6
Chemical products	39.4
Rubber and plastic	12.9
Metal products	11.3
Food products	10.8
Cars	4.2
Machinery	3
Electronic products	2.2

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

Producer prices manufacturing by sector*, October 2021
Category	% change (year-on-year % change)
Petroleum products	102.6
Chemical products	39.4
Rubber and plastic	12.9
Metal products	11.3
Food products	10.8
Cars	4.2
Machinery	3
Electronic products	2.2

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

Prices of manufactured products increased in October

Manufacturing output prices rose by 3.0 percent in October relative to September. They increased by 3.0 percent on both the export market and the domestic market.

Index producer prices
Year	Month	(2015=100) (2015=100)
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	105
2021	February	107.2
2021	March	109.4
2021	April	111.2
2021	May	112.5
2021	June	113.3
2021	July	115.4
2021	August	116.4
2021	September	117.6
2021	October	121.2

Index producer prices
Year	Month	(2015=100) (2015=100)
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	105
2021	February	107.2
2021	March	109.4
2021	April	111.2
2021	May	112.5
2021	June	113.3
2021	July	115.4
2021	August	116.4
2021	September	117.6
2021	October	121.2

Sources

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

Soaring crude oil prices

Prices of manufactured products increased in October

Sources

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