Manufacturing output prices 0.5 percent higher in June

Larger year-on-year increase in crude oil prices

Output prices are generally strongly influenced by the price of crude oil. In June, a barrel of North Sea Brent crude cost over 77 euros, over 11 percent more than in June 2023. In May, the average price of a barrel of crude stood at nearly 77 euros, which was over 10 percent higher than May 2023.

Year on year, prices for petroleum derivatives were up by 0.3 percent in June, while in May they were up by 4.0 percent. In the chemical sector too, output prices tend to track the price of crude oil. Output prices for chemical products were 1.2 percent lower than they were in June 2023. In May, they were down by 2.7 percent year on year.

Manufacturing output prices fell month on month in June

Output prices fell by 0.1 percent in June compared to May. Prices on the domestic market fell by 0.2 percent, while on the export market they remained the same.