Netherlands' goods see 7.7% fall in prices in July 2023: CBS

02 Sep '23

1 min read

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Insights

In July 2023, the prices of products manufactured in the Netherlands fell by an average of 7.7 per cent YoY, following a 7.2 per cent drop in June.
The decline in output prices was largely influenced by the decrease in crude oil prices, according to Statistics Netherlands (CBS).
In July, North Sea Brent oil cost €72 per barrel, down 29 per cent YoY.

Prices of Dutch-manufactured products were down by an average of 7.7 per cent year-on-year (YoY) in July 2023. In June, prices were 7.2 per cent lower than one year previously, as per Statistics Netherlands (CBS).

Output prices are strongly affected by crude oil price developments. In July, a barrel of North Sea Brent oil cost more than €72, that is 29 per cent less than in the same month last year. In June 2023, the average price of a barrel stood at approximately €69, over 37 per cent less than one year previously, CBS said in a press release.

Prices of petroleum derivatives were down by 28.3 per cent YoY in July; they were down by 36.0 per cent in June. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 22.9 per cent lower than in July 2022. In June, they were down by 19.1 per cent YoY.

Relative to June, manufacturing output prices fell by 0.4 per cent in July. Prices decreased by 0.1 per cent on the export market and by 0.8 per cent on the domestic market.

Fibre2Fashion News Desk (NB)

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