Manufacturing output prices remained virtually the same in November

Smaller year-on-year decrease in crude oil prices

Output prices are generally strongly influenced by the price of crude oil. In November, the average price of a barrel of North Sea Brent crude stood at over 69 euros, which was over 9 percent lower than in November 2023. In October, a barrel of crude cost 69 euros, nearly 18 percent less than in October 2023.

Year on year, prices for petroleum derivatives were down by 14.9 percent in November, while in October they were down by 21.2 percent. In the chemical sector too, output prices tend to track the price of crude oil. Output prices for chemical products were 1.3 percent lower in November 2024 than they were in November 2023. In October, they were down by 3.1 percent year on year.

Manufacturing output prices up by 0.3 percent on October

Output prices rose by 0.3 percent in November compared to October. Prices on the export market rose by 0.2 percent, on the domestic market by 0.4 percent.