Manufacturing output prices 2 percent lower in September

Larger year-on-year decrease in crude oil prices

Output prices are generally strongly influenced by the price of crude oil. In September, the average price of a barrel of North Sea Brent crude stood at almost 66 euros, which was over 24 percent lower than in September 2023. In August, a barrel of crude cost 71.5 euros, more than 8 percent less than in August 2023.

Year on year, prices for petroleum derivatives were down by 31.2 percent in September, while in August they were down by 18.1 percent. In the chemical sector too, output prices tend to track the price of crude oil. Output prices for chemical products were 1.1 percent lower in September 2024 than they were in September 2023. In August, they were up by 0.6 percent year on year.

Manufacturing output prices fell month on month in September

Output prices fell by 0.7 percent in September compared to August. Prices on the export market fell by 0.8 percent, while on the domestic market they fell by 0,4 percent.