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Netherlands manufacturing output prices over 5 percent up

Staff Writer |
Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 5.2 percent up in August 2018 year-on-year.

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The price increase was slightly lower than in the previous month, when prices in manufacturing were 5.5 percent higher.

In August 2018, the price of a barrel of North Sea Brent oil was almost 64 euros, 45 percent higher than in August 2017. In July 2018, the crude oil barrel price stood at over 64 euros, more than 50 percent up on July 2017.

Output prices are strongly affected by crude oil price developments. In August, prices of petroleum derivatives increased by almost 35 percent year-on-year. The price increase in the preceding month was 40 percent.

In the chemical industry as well, output prices are affected by changes in the price of crude oil. Output prices of chemical products were nearly 10 percent higher in August than in the same month last year. The price increase is the same as in July.

Furthermore, prices in the automotive industry as well as prices of metal products, rubber and plastic products, machinery and of electrotechnical products were higher than twelve months previously. On the other hand, prices of food products were below the level of one year previously.

Prices of manufactured products in August were about the same as in July. Prices on the domestic and foreign markets also hardly changed.

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