Manufacturing prices more than 9 percent higher
Higher crude oil and output prices
In April this year, the price of a barrel of North Sea Brent oil was approximately 50 euros, i.e. 31 percent up from the price level recorded in April 2016. In March, the price increase was 38 percent on a year-on-year basis.
Manufacturing prices are strongly affected by crude oil price developments. In April prices of petroleum derivatives increased by 32 percent compared to April 2016. In March the year-on-year price increase was 39.5 percent.
Year-on-year, prices of chemical products were almost 16 percent higher. In the chemical industry, too, prices are affected by crude oil price developments. Prices in the basic metal industry were nearly 15 percent up on an annual basis, partly due to the growing demand for basic metals and relatively low stock levels.
Prices of food, metal, rubber and plastic products and prices in the automotive industry were also higher than one year ago. This is partly due to higher prices for agricultural raw materials and metals. Prices of machinery, on the other hand, were below the level of twelve months previously.
| % change | |
|---|---|
| Petroleum products | 32 |
| Chemical products | 15.9 |
| Basic metal products | 14.9 |
| Food products | 7.8 |
| Metal products | 4.3 |
| Cars | 1.9 |
| Rubber and plastic | 1.5 |
| Machine | -3.6 |
Altogether, the eight industries referred to in the above text and the corresponding graph account for 80 percent of total Dutch manufacturing industry.
Prices manufactured products the same in April as in March
Prices of manufactured products were about the same in April as in March. Prices on the domestic market fell by almost 0.5 percent, prices on the foreign market rose by almost 0.5 percent. The crude oil price also rose in April.
Sources
- StatLine - Producer Prices Index; output prices by economic activity
- StatLine- Producer Prices Index (PPI); output and import prices by product
Related items
- Dossier - Business Cycle