Increase in Dutch manufacturing prices more substantial

Increase in Dutch manufacturing prices more substantial

Selling prices in Dutch manufacturing industry were more than 4 percent higher in August 2012 than in August 2011 according to Statistics Netherlands. In July, prices for manufactured products were nearly 2 percent up from twelve months previously. August was the second consecutive month, in which the price increase was more substantial than in the previous month. This is mainly due to price developments in the petroleum industry.

Selling prices in the petroleum industry were nearly 18 percent higher in August 2012 than in August 2011.The price increase was much more substantial than in July (7 percent) and June (2 percent). If the petroleum industry is not taken into account, prices of manufactured products were nearly 2 percent higher in August and nearly 1 percent higher in July.

Manufacturers of food, drinks and tobacco also charged considerably higher prices for their products than in August 2011, but prices of basic metal products dropped. For the seventh month running, prices in this branch of industry were below the level of one year previously and prices are dropping more rapidly.

Selling prices in manufacturing rose by 1.9 percent in August relative to July. With 2.2 percent, the price increase on the foreign market was more substantial than the price increase on the domestic market (1.4 percent).

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