Manufacturing output prices 19.5 percent up in December

© Shutterstock / Tjeerd Kruse
Statistics Netherlands (CBS) reports for December 2021 that prices of Dutch-manufactured products were up by an average of 19.5 percent year on year. Dutch-manufactured products were 21.0 percent up year on year in the previous month.

Producer prices
YearMonthchange (year-on-year % change)
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
2021May13.1
2021June12.6
2021July14.1
2021August15.2
2021September17.1
2021October20.5
2021November21
2021December19.5

Smaller increase in crude oil price

Output prices are strongly affected by crude oil price developments. In December 2021, a barrel of North Sea Brent oil cost almost 66 euros, i.e. over 59 percent more than one year previously. The crude oil price was slightly under 71 euros on average in November 2021, i.e. over 90 percent higher than in the same month in 2020.

In December, prices of petroleum derivatives were up by 67.9 percent year on year; they were up by 92.6 percent in November. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 45.2 percent higher in December than in the same month of the previous year. In November 2021, prices were up by 46.9 percent year on year.

Prices in all of the manufacturing industries increased year on year in December 2021.

Producer prices manufacturing by sector*, December 2021
Category% change (year-on-year % change)
Petroleum products67.9
Chemical products45.2
Rubber and plastic13.7
Metal products11.7
Food products11.3
Cars4.3
Electronic products3.6
Machinery3.5
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products fell in December

Relative to November, manufacturing output prices fell by 0.1 percent in December. They increased by 0.1 percent on the domestic market, but decreased by 0.3 percent on the export market.

Index producer prices
YearMonth(2015=100) (2015=100)
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
2021April111.2
2021May112.5
2021June113.3
2021July115.5
2021August116.5
2021September117.7
2021October121.5
2021November122.4
2021December122.3