Dutch Industrial Selling Prices Drop by Nearly 8 Percent in July

The average selling prices of Dutch industrial products saw a decline of 7.7 percent in July compared to the same period in 2022, according to the latest data from Statistics Netherlands (CBS). This decrease follows a price drop of 7.2 percent recorded the previous month.

The in- and export prices of the industry are included as inflation indicators in the price dashboard.

Key Findings:

  • The selling prices of the Dutch industry were down by an average of 7.7 percent in July 2023, compared to the prices in July 2022. The decline was slightly larger than the 7.2 percent drop recorded the previous month.
  • The development of industrial selling prices is closely tied to the price movement of crude oil. In July, a barrel of North Sea Brent crude oil cost around 72 euros, marking a 29 percent decrease compared to the previous year. This comes after a reduction of over 37 percent in June 2023 compared to the same month in 2022.
  • Industries related to petroleum and chemicals are notably affected by the changes in oil prices. In July, products of the petroleum industry were 28.3 percent cheaper than in July 2022, while the chemical industry saw a decline of 22.9 percent in selling prices compared to the previous year.
  • The overall drop in industrial selling prices in July was 0.4 percent compared to June. Prices in foreign markets dipped by 0.1 percent, while domestic prices saw a decrease of 0.8 percent.