Sustained increase in factory gate prices

Factory gate prices of Dutch manufactured products were nearly 10 percent higher in March than twelve months previously. The price increase in manufacturing industry was of the same order of magnitude as in the four preceding months. Soaring oil prices played an important role in this respect.

The oil price per barrel (in dollars) was on average 67 percent higher in March than twelve months previously. The effect of the sharp increase in oil prices on selling prices was partly offset by a drop in the value of the dollar against the euro. Pushed up by rising oil prices, selling prices in the petroleum processing and refining industry were 38 percent higher in March than in the same month last year. If price rises in the petroleum industry are not taken into account, manufacturing prices were nearly 6 percent up on March 2007.

Food manufacturers charged nearly 12 percent more for their products than in March 2007. Price increases have been in double digits since mid-2007. With 9 percent, prices of chemical products have also risen substantially. Not all branches of industry raised their selling prices. Prices of basic metal products were lower than twelve months ago for the eighth month in a row.

Factory gate prices in manufacturing industry were 1.2 percent up on February this year. The price increase for products sold on the domestic market lagged somewhat behind the price increase for exported goods.

Factory gate prices