Manufacturing output prices almost 22 percent up in February

30/03/2022 15:00

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Statistics Netherlands (CBS) reports for February 2022 that prices of Dutch-manufactured products were up by an average of 21.8 percent year on year. Dutch-manufactured products were 21.7 percent up year on year in the previous month.

Producer prices
Year	Month	change (year-on-year % change)
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	14.1
2021	August	15.2
2021	September	17.1
2021	October	20.5
2021	November	21
2021	December	19.9
2022	January	21.7
2022	February	21.8

Producer prices
Year	Month	change (year-on-year % change)
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	14.1
2021	August	15.2
2021	September	17.1
2021	October	20.5
2021	November	21
2021	December	19.9
2022	January	21.7
2022	February	21.8

Smaller increase in crude oil price

Output prices are strongly affected by crude oil price developments. In February 2022, a barrel of North Sea Brent oil cost almost 83 euros, i.e. approximately 61 percent more than one year previously. The crude oil price was 75.5 euros on average in January, i.e. over 66 percent higher than in the same month last year.

In February, prices of petroleum derivatives were up by 67.1 percent year on year; they were up by 69.3 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 42.9 percent higher in February than in the same month of the previous year. In January, prices were up by 45.1 percent year on year.

Prices in almost all of the manufacturing industries increased year on year in February 2022.

Producer prices manufacturing by sector*, February 2022
Category	% change (year-on-year % change)
Petroleum products	67.1
Chemical products	42.9
Rubber and plastic	17.3
Food products	15.3
Metal products	13.9
Machinery	4.5
Electronic products	3.8
Cars	2.4

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

Producer prices manufacturing by sector*, February 2022
Category	% change (year-on-year % change)
Petroleum products	67.1
Chemical products	42.9
Rubber and plastic	17.3
Food products	15.3
Metal products	13.9
Machinery	4.5
Electronic products	3.8
Cars	2.4

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

Prices of manufactured products rose in February

Relative to January, manufacturing output prices rose by 2.1 percent in February. They increased by 2.5 percent on the domestic market and by 1.9 percent on the export market.

Index producer prices
Year	Month	(2015=100) (2015=100)
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	115.5
2021	August	116.5
2021	September	117.7
2021	October	121.4
2021	November	122.4
2021	December	122.7
2022	January	127.8
2022	February	130.5

Index producer prices
Year	Month	(2015=100) (2015=100)
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	115.5
2021	August	116.5
2021	September	117.7
2021	October	121.4
2021	November	122.4
2021	December	122.7
2022	January	127.8
2022	February	130.5

Sources

StatLine - Producer Price Index (PPI); output and importprices by product, 2015=100

Smaller increase in crude oil price

Prices of manufactured products rose in February

Sources

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