Manufacturing output prices 7 percent down in June

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© CBS
Statistics Netherlands (CBS) reports for June 2023 that prices of Dutch-manufactured products were down by an average of 7.0 percent year on year. In May, prices were 4.9 percent lower than one year previously.

Producer prices
YearMonthchange (year-on-year % change)
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
2021November20.9
2021December19.8
2022January21.7
2022February22
2022March26.1
2022April29.1
2022May29
2022June30.5
2022July28.3
2022August25.2
2022September23.1
2022October20.8
2022November17.1
2022December14.1
2023January11.4
2023February8.2
2023March1.6
2023April-2.5
2023May-4.9
2023June-7

Larger decrease in crude oil price

Output prices are strongly affected by crude oil price developments. In June 2023, a barrel of North Sea Brent oil cost approximately 69 euros, over 37 percent less than one year previously. In May, the average price of a barrel stood at nearly 70 euros, i.e. approximately 34 percent less than in the same month last year.

Prices of petroleum derivatives were down by 35.9 percent year on year in June; they were down by 30.6 percent in May. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 17.9 percent lower than in June 2022. In May, they were down by 16.1 percent year on year.

In most manufacturing industries, however, prices in June were higher than one year previously.

Producer prices manufacturing by sector*, June 2023
Category% change (year-on-year % change)
Cars7.3
Machinery6.4
Electronic products5.1
Food products4.4
Rubber and plastic1.2
Metal products-1.8
Chemical products-17.9
Petroleum products-35.9
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Manufacturing output prices fell in June

Relative to May, manufacturing output prices fell by 0.3 percent in June. Prices increased by 0.2 percent on the export market and decreased by 1.0 percent on the domestic market.

Index producer prices
YearMonth(2015=100) (2015=100)
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
2021October121.4
2021November122.4
2021December122.6
2022January127.8
2022February130.7
2022March137.9
2022April143.6
2022May145.1
2022June147.8
2022July148.1
2022August145.9
2022September144.9
2022October146.6
2022November143.3
2022December139.9
2023January142.4
2023February141.4
2023March140.2
2023April140
2023May138
2023June137.5