Dutch Industrial Prices Drop Over 4 Percent in November

The Central Bureau of Statistics (CBS) reports that the selling prices of Dutch industries were on average 4.2 percent lower in November than in the same month of 2022. This comes after a 5.3 percent decline in October.

The significant drop in industrial prices is notably influenced by the fluctuating prices of crude oil. In November, a barrel of crude North Sea Brent was priced at almost €76, reflecting a 15 percent decrease compared to the previous year. In October 2023, the price was nearly €84, representing a 12 percent drop.

Products from the petroleum industry were 12.9 percent cheaper in November 2023 compared to the same month in 2022. Similarly, the chemical industry experienced a 15.2 percent decline in selling prices year-on-year in November.

The breakdown of industrial sectors reveals varying degrees of impact, with machine (-17.5 percent), automotive (-15 percent), and electrical engineering (-12.5 percent) industries showing considerable declines in selling prices.

In November, overall industrial prices decreased by 1.2 percent compared to October, with foreign market prices down by 1.6 percent and domestic market prices down by 0.8 percent.