Dutch product prices rise 1.9% YoY in Mar 2023, plateauing since July

Output prices are strongly affected by crude oil price developments. In March, the average price of a barrel stood at approximately €74, i.e. 27 per cent less than in the same month last year. In February 2023, a barrel of North Sea Brent oil cost approximately €78, nearly 6 per cent less than one year previously, according to Statistics Netherlands (CBS).

Prices of petroleum derivatives were down by 21.2 per cent YoY in March; they were up by 5.6 per cent in February. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 4.3 per cent lower than in March 2022. In February, they were up by 1.0 per cent YoY.

In March, prices were up in most manufacturing industries. Relative to February, manufacturing output prices fell by 0.8 per cent in March. Prices decreased by 1.0 per cent on the export market and by 0.5 per cent on the domestic market.

ALCHEMPro News Desk (NB)