Manufacturing output prices almost 8 percent down in July

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© CBS
Statistics Netherlands (CBS) reports for July 2023 that prices of Dutch-manufactured products were down by an average of 7.7 percent year on year. In June, prices were 7.2 percent lower than one year previously

Producer prices
YearMonthchange (year-on-year % change)
2019August-0.8
2019September-0.7
2019October-1.5
2019November0.2
2019December2.9
2020January2.2
2020February0.9
2020March-3.8
2020April-8
2020May-7.8
2020June-5.5
2020July-4.8
2020August-4.2
2020September-5.3
2020October-5
2020November-4.6
2020December-4.1
2021January-1.8
2021February0.9
2021March7.1
2021April12.3
2021May13.1
2021June12.6
2021July14.1
2021August15.2
2021September17.1
2021October20.5
2021November20.9
2021December19.8
2022January21.7
2022February22
2022March26.1
2022April29.1
2022May29
2022June30.5
2022July28.3
2022August25.2
2022September23.1
2022October20.8
2022November17.1
2022December14.1
2023January11.4
2023February8.2
2023March1.6
2023April-2.5
2023May-5.1
2023June-7.2
2023August-7.7

Smaller decrease in crude oil price

Output prices are strongly affected by crude oil price developments. In July, a barrel of North Sea Brent oil cost more than 72 euros, i.e. 29 percent less than in the same month last year. In June 2023, the average price of a barrel stood at approximately 69 euros, over 37 percent less than one year previously.

Prices of petroleum derivatives were down by 28.3 percent year on year in July; they were down by 36.0 percent in June. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 22.9 percent lower than in July 2022. In June, they were down by 19.1 percent year on year.

Producer prices manufacturing by sector*, July 2023
Category% change (year-on-year % change)
Cars5.9
Machinery4.1
Food products1.8
Electronic products1.6
Rubber and plastic-1.3
Metal products-3
Chemical products-22.9
Petroleum products-28.3
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Manufacturing output prices fell in July

Relative to June, manufacturing output prices fell by 0.4 percent in July. Prices decreased by 0.1 percent on the export market and by 0.8 percent on the domestic market.

Index producer prices
YearMonth(2015=100) (2015=100)
2019August105.5
2019September106.1
2019October106
2019November106.1
2019December106.7
2020January107
2020February106.3
2020March102.2
2020April99.1
2020May99.4
2020June100.6
2020July101.2
2020August101.1
2020September100.5
2020October100.8
2020November101.2
2020December102.3
2021January105
2021February107.2
2021March109.4
2021April111.2
2021May112.5
2021June113.3
2021July115.5
2021August116.5
2021September117.7
2021October121.4
2021November122.4
2021December122.6
2022January127.8
2022February130.7
2022March137.9
2022April143.6
2022May145.1
2022June147.8
2022July148.1
2022August145.9
2022September144.9
2022October146.6
2022November143.3
2022December139.9
2023January142.4
2023February141.4
2023March140.2
2023April139.9
2023May137.7
2023June137.3
2023July136.7