Manufacturing output prices over 1 percent lower in October

Smaller year-on-year decrease in crude oil prices

Output prices are generally strongly influenced by the price of crude oil. In October, a barrel of crude cost 69 euros, nearly 18 percent less than in October 2023. In September, the average price of a barrel of North Sea Brent crude stood at around 66 euros, which was over 24 percent lower than in September 2023.

Year on year, prices for petroleum derivatives were down by 21.2 percent in October, while in September they were down by 31.2 percent. In the chemical sector too, output prices tend to track the price of crude oil. Output prices for chemical products were 3.0 percent lower in October 2024 than they were in October 2023. In September, they were down by 1.0 percent year on year.

Manufacturing output prices rose slightly in October

Output prices rose by 0.1 percent in October compared to September. Prices on the export market rose by 0.2 percent, while on the domestic market they remained the same.