Manufacturing output prices down by almost 1 percent in March

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Producer prices

Year	Month	change (year-on-year % change)
2020	April	-5.8
2020	May	-5.6
2020	June	-4.1
2020	July	-3.6
2020	August	-3.3
2020	September	-4
2020	October	-3.8
2020	November	-3.5
2020	December	-3.1
2021	January	-1.3
2021	February	0.5
2021	March	5.2
2021	April	9.4
2021	May	9.9
2021	June	9.9
2021	July	11.6
2021	August	12.5
2021	September	13.6
2021	October	16.3
2021	November	16.8
2021	December	16.1
2022	January	18
2022	February	18.2
2022	March	20.8
2022	April	23.5
2022	May	23.8
2022	June	24.9
2022	July	23.8
2022	August	21.7
2022	September	19.9
2022	October	18.1
2022	November	15.5
2022	December	13.3
2023	January	11.1
2023	February	8.7
2023	March	4
2023	April	0.2
2023	May	-1.9
2023	June	-3.7
2023	July	-5.2
2023	August	-3.2
2023	September	-1.5
2023	October	-3.2
2023	November	-2.6
2023	December	-1.9
2024	January	-2.9
2024	February	-1.8
2024	March	-0.9

Producer prices

Year	Month	change (year-on-year % change)
2020	April	-5.8
2020	May	-5.6
2020	June	-4.1
2020	July	-3.6
2020	August	-3.3
2020	September	-4
2020	October	-3.8
2020	November	-3.5
2020	December	-3.1
2021	January	-1.3
2021	February	0.5
2021	March	5.2
2021	April	9.4
2021	May	9.9
2021	June	9.9
2021	July	11.6
2021	August	12.5
2021	September	13.6
2021	October	16.3
2021	November	16.8
2021	December	16.1
2022	January	18
2022	February	18.2
2022	March	20.8
2022	April	23.5
2022	May	23.8
2022	June	24.9
2022	July	23.8
2022	August	21.7
2022	September	19.9
2022	October	18.1
2022	November	15.5
2022	December	13.3
2023	January	11.1
2023	February	8.7
2023	March	4
2023	April	0.2
2023	May	-1.9
2023	June	-3.7
2023	July	-5.2
2023	August	-3.2
2023	September	-1.5
2023	October	-3.2
2023	November	-2.6
2023	December	-1.9
2024	January	-2.9
2024	February	-1.8
2024	March	-0.9

Year-on-year increase in crude oil prices

Output prices are strongly influenced by the price of crude oil. In March, the average price of a barrel of crude stood at almost 78 euros, which was over 5 percent higher than one year previously. In February, a barrel of North Sea Brent crude cost 75.5 euros, over 3 percent less than one year previously.

Year on year, prices for petroleum derivatives were down by 1.1 percent in March, while in February they were down by 2.8 percent. In the chemical sector too, output prices tend to track the price of crude oil. Output prices for chemical products were 5 percent lower than they were in March 2023. In February 2024, they were down by 8.5 percent year on year.

Manufacturing output prices rose in March

Output prices rose by 0.4 percent in March compared to February. Prices on the export market rose by 0.3 percent, while on the domestic market they rose by 0.6 percent.