Netherlands' manufacturing output prices up 17.3% YoY in Nov 22: CBS

Since July 2021, the increase in manufacturing output prices has been unprecedented. The war in Ukraine has put additional pressure on prices, on top of the price increases due to the rapid economic recovery immediately following the coronavirus crisis, as per CBS.

Output prices are strongly affected by crude oil price developments. In November, the average price of a barrel of North Sea Brent oil stood at approximately €89, i.e., over 26 per cent more than in the same month of the previous year. In October 2022, a barrel cost over €95, i.e., approximately 32 per cent more than one year previously.

Prices of petroleum derivatives were up by 38.2 per cent year on year in November; they were up by 52.6 per cent in October. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 16.4 per cent higher than in November 2021. In October, prices were up by 24.2 per cent YoY.

In November 2022, prices were up in virtually all manufacturing industries.

However, relative to October, manufacturing output prices fell by 2.2 per cent in November. Prices decreased by 2.8 per cent on the export market and by 1.6 per cent on the domestic market.

Fibre2Fashion News Desk (DP)