The Dutch Central Bureau of Statistics (CBS) reports that the sales prices of goods in the Dutch industry experienced an average decrease of 2.3 percent in April compared to April 2022. This marks the first decline in prices in over two years.
The development of industrial sales prices is closely linked to the price fluctuations of crude oil. In April 2023, a barrel of crude North Sea Brent oil cost around €76, which is 22 percent less than the previous year. In March, the price of crude oil was nearly €74 per barrel, reflecting a 27 percent decrease compared to the previous year.
Products derived from the petroleum industry were 21.3 percent cheaper in April 2023 compared to April 2022. In March, the prices were 21.2 percent higher than the previous year. The chemical industry also tends to be influenced by oil prices, with sales prices in April being 13.4 percent lower than the previous year. In March, the prices were 4.6 percent lower than in March 2022.
It is worth noting that most industry sectors experienced higher prices in April compared to the previous year, including automobiles, machinery, food products, electrical engineering, plastics/rubber, metal products, and chemicals.
In April, overall industrial sales prices decreased by 0.1 percent compared to March. Prices on the foreign market increased by 0.5 percent, while prices on the domestic market decreased by 0.9 percent.