Price increase manufacturing industry slows down

Selling prices in Dutch manufacturing industry were 2.1 percent higher in May 2012 than in May 2011. In April, prices of manufactured products increased by 2.6 percent relative to one year previously. Since the summer of 2011, the increase in manufacturing prices has slowed down continuously.

In nearly all branches, manufacturers charged higher prices for their products than in May 2011. Just as in the preceding months, prices of petroleum derivatives rose most notably; prices were 7 percent up from one year previously. Over the past two months, the increase has been far less substantial than in the preceding months. Prices of basic metal products were 5 percent below the level in May 2011. Year-on-year prices in the basic metal industry dropped for the fourth month running and are dropping further.

Selling prices in manufacturing industry were 0.9 percent lower in May than in April. Prices on the foreign markets fell more rapidly (-1.1 percent) than prices on the domestic market (-0,5 percent). In April, prices were marginally lower than in the preceding month (-0.1 percent).The drop in selling prices in April and May can largely be attributed to falling crude oil prices. The price of a barrel of North Sea Brent oil averaged 86 euro in May, 92 euro in April and 94 euro in March. March’s price level was the highest recorded in decades.

Factory gate prices

More figures can be found in dossier Business cycle.