Manufacturing output prices over 1 percent higher in December

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Statistics Netherlands (CBS) reports that output prices for Dutch-manufactured products were 1.2 percent higher on average in December 2024 relative to one year previously. In November, prices remained the same year on year.

Producer prices
YearMonthchange (year-on-year % change)
2021January-1.3
2021February0.5
2021March5.2
2021April9.4
2021May9.9
2021June9.9
2021July11.6
2021August12.5
2021September13.6
2021October16.3
2021November16.8
2021December16.1
2022January18
2022February18.2
2022March20.8
2022April23.5
2022May23.8
2022June24.9
2022July23.8
2022August21.7
2022September19.9
2022October18.1
2022November15.5
2022December13.3
2023January11.1
2023February8.7
2023March4
2023April0.2
2023May-1.9
2023June-3.7
2023July-5.2
2023August-3.2
2023September-1.5
2023October-3.2
2023November-2.6
2023December-1.9
2024January-2.9
2024February-1.7
2024March-0.8
2024April-0.1
2024May0.3
2024June0.6
2024July1
2024August-0.5
2024September-2.1
2024October-1.2
2024November0
2024December1.2

Smaller year-on-year decrease in crude oil prices

Output prices are generally strongly influenced by the price of crude oil. In December, a barrel of crude cost nearly 70 euros, 1.5 percent less than in December 2023. In November, the average price of a barrel of North Sea Brent crude stood at over 69 euros, more than 9 percent lower compared to November 2023.

Year on year, prices for petroleum derivatives were down by 7.9 percent in December, while in November they were down by 15.0 percent. In the chemical sector too, output prices tend to track the price of crude oil. Output prices for chemical products were 0.2 percent higher in December 2024 than they were in December 2023. In November, they were down by 1.2 percent year on year.

Producer prices manufacturing by sector*, December 2024
Category% change (year-on-year % change)
Food products5.7
Electronic products2.7
Machinery1.1
Rubber and plastic1
Cars0.4
Chemical products0.2
Metal products-0.1
Petroleum products-7.9
*Altogether, the eight industries referred to account for almost 75 percent of the total Dutch manufacturing industry

Manufacturing output prices up by 0.2 percent on November

Output prices rose by 0.2 percent in December compared to November. Prices on the export market rose by 0.3 percent, while on the domestic market prices fell by 0.1 percent.

Index producer prices
YearMonth(2015=100) (2021=100)
2021January93.1
2021February94.5
2021March96.1
2021April97.6
2021May98.4
2021June99
2021July101
2021August101.6
2021September102.3
2021October104.8
2021November105.6
2021December105.8
2022January109.9
2022February111.7
2022March116.2
2022April120.6
2022May121.8
2022June123.8
2022July125
2022August123.7
2022September122.7
2022October123.9
2022November121.9
2022December119.9
2023January122.2
2023February121.5
2023March120.8
2023April120.9
2023May119.6
2023June119.2
2023July118.6
2023August119.7
2023September120.8
2023October119.9
2023November118.8
2023December117.6
2024January118.6
2024February119.4
2024March119.9
2024April120.8
2024May119.9
2024June119.9
2024July119.7
2024August119.1
2024September118.3
2024October118.5
2024November118.8
2024December119

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