Increase in manufacturing output prices again smaller

30/03/2023 15:00

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Statistics Netherlands (CBS) reports for February 2023 that prices of Dutch-manufactured products were up by an average of 8.1 percent year on year. In January, prices were 11.3 percent higher than one year previously. Since July 2022, the increase in output prices has levelled off continuously.

Producer prices
Year	Month	change (year-on-year % change)
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	20.9
2021	December	19.8
2022	January	21.7
2022	February	22
2022	March	26.1
2022	April	29.1
2022	May	29
2022	June	30.5
2022	July	28.3
2022	August	25.2
2022	September	23.1
2022	October	20.8
2022	November	17.1
2022	December	14.1
2023	January	11.3
2023	February	8.1

Producer prices
Year	Month	change (year-on-year % change)
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	20.9
2021	December	19.8
2022	January	21.7
2022	February	22
2022	March	26.1
2022	April	29.1
2022	May	29
2022	June	30.5
2022	July	28.3
2022	August	25.2
2022	September	23.1
2022	October	20.8
2022	November	17.1
2022	December	14.1
2023	January	11.3
2023	February	8.1

Decrease in crude oil price

Output prices are strongly affected by crude oil price developments. In February 2023, a barrel of North Sea Brent oil cost approximately 78 euros, nearly 6 percent less than one year previously. In January, the average price of a barrel also stood at approximately 78 euros, i.e. over 3 percent more than in the same month last year.

Prices of petroleum derivatives were up by 4.0 percent year on year in February; they were up by 19.3 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 1.1 percent higher than in February 2022. In January, they were up by 4.2 percent year on year.

In February, prices were up in all manufacturing industries.

Producer prices manufacturing by sector*, February 2023
Category	% change (year-on-year % change)
Food products	16
Rubber and plastic	8.9
Cars	8.1
Machinery	7.8
Metal products	6.6
Electronic products	6.3
Petroleum products	4
Chemical products	1.1

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

Producer prices manufacturing by sector*, February 2023
Category	% change (year-on-year % change)
Food products	16
Rubber and plastic	8.9
Cars	8.1
Machinery	7.8
Metal products	6.6
Electronic products	6.3
Petroleum products	4
Chemical products	1.1

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

Manufacturing output prices fell in February

Relative to January, manufacturing output prices fell by 0.7 percent in January. Prices decreased by 1.1 percent on the export market and by 0.3 percent on the domestic market.

Index producer prices
jaar	maand	(2015=100) (2015=100)
2019	maart	106.2
2019	april	107.7
2019	mei	107.9
2019	juni	106.5
2019	juli	106.3
2019	augustus	105.5
2019	september	106.1
2019	oktober	106
2019	november	106.1
2019	december	106.7
2020	januari	107
2020	februari	106.3
2020	maart	102.2
2020	april	99.1
2020	mei	99.4
2020	juni	100.6
2020	juli	101.2
2020	augustus	101.1
2020	september	100.5
2020	oktober	100.8
2020	november	101.2
2020	december	102.3
2021	januari	105
2021	februari	107.2
2021	maart	109.4
2021	april	111.2
2021	mei	112.5
2021	juni	113.3
2021	juli	115.5
2021	augustus	116.5
2021	september	117.7
2021	oktober	121.4
2021	november	122.4
2021	december	122.6
2022	januari	127.8
2022	februari	130.7
2022	maart	137.9
2022	april	143.6
2022	mei	145.1
2022	juni	147.8
2022	juli	148.1
2022	augustus	145.9
2022	september	144.9
2022	oktober	146.6
2022	november	143.3
2022	december	139.9
2023	januari	142.3
2023	februari	141.3

Index producer prices
jaar	maand	(2015=100) (2015=100)
2019	maart	106.2
2019	april	107.7
2019	mei	107.9
2019	juni	106.5
2019	juli	106.3
2019	augustus	105.5
2019	september	106.1
2019	oktober	106
2019	november	106.1
2019	december	106.7
2020	januari	107
2020	februari	106.3
2020	maart	102.2
2020	april	99.1
2020	mei	99.4
2020	juni	100.6
2020	juli	101.2
2020	augustus	101.1
2020	september	100.5
2020	oktober	100.8
2020	november	101.2
2020	december	102.3
2021	januari	105
2021	februari	107.2
2021	maart	109.4
2021	april	111.2
2021	mei	112.5
2021	juni	113.3
2021	juli	115.5
2021	augustus	116.5
2021	september	117.7
2021	oktober	121.4
2021	november	122.4
2021	december	122.6
2022	januari	127.8
2022	februari	130.7
2022	maart	137.9
2022	april	143.6
2022	mei	145.1
2022	juni	147.8
2022	juli	148.1
2022	augustus	145.9
2022	september	144.9
2022	oktober	146.6
2022	november	143.3
2022	december	139.9
2023	januari	142.3
2023	februari	141.3

Sources

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

Decrease in crude oil price

Manufacturing output prices fell in February

Sources

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