Price rises manufacturing industry remain high

In December 2007, factory gate prices of Dutch manufacturing industry were 8.8 percent up on December 2006. This is almost equal to the increase in November. Prices have risen substantially over the last months of 2007, partly as a result of higher oil prices. 

Selling prices in the petroleum processing and refining industry were nearly 34 percent higher than in December 2006. On average, the oil price per barrel (in dollars) was about 46 percent higher than in the same month one year previously. The sharp price increase was partly offset by a devaluation of the dollar against the euro by nearly 10 percent. If price rises in the petroleum industry are not taken into account, manufacturing prices were 5.3 percent up on December 2006.

Prices of food products have also risen substantially too. In December 2007, selling prices were almost 13 percent higher than in December 2006. In the three preceding months, the increase was more or less similar.

Factory gate prices in manufacturing industry hardly changed in December compared with November. Prices of exported goods were 0.4 percentage points down on November, while prices of products sold on the domestic market rose by 0.3 percentage points.

Products sold by Dutch manufacturers were on average 4.0 percent more expensive in 2007 than in 2006. The increase is less substantial than in 2005 and 2006, when prices rose by 6.2 and 4.8 percent respectively.

Factory gate prices