Prices in manufacturing industry still on the rise

Sales and consumption prices of the Dutch manufacturing industry increased in the third quarter of 2002 compared to the previous quarter. The increase is slightly smaller than the second quarter increase, according to the latest preliminary figures by Statistics Netherlands.

In the second half of 2001 prices were still falling sharply. Due to this drop and the increase in 2002 the selling prices are back to the same level as a year ago. Raw materials and semi-manufactured goods are still cheaper than in the third quarter of 2001.

Higher selling prices
The selling prices of the Dutch manufacturing industry in the third quarter increased by 1.1% on the second quarter. In the second quarter prices increased by 1.6%. Products for the Dutch market were 0.5% more expensive in the third quarter. Prices for exported goods were up by 1.4%. When the price developments in the oil industry are not taken into account the price increase would be more modest. It would bring the price increase of total sales in the third quarter to 0.8%.

Third quarter selling prices are at about the same level as in the third quarter of 2001. The prices for domestic sales are slightly higher, the prices for sales abroad slightly lower.

Consumption prices up
Entrepreneurs in the manufacturing industry paid 0.6% more for purchased raw materials and semi-manufactured goods in the third quarter than they did in the second quarter. They paid 1.3 % more for raw materials and semimanufactured goods purchased in the Netherlands. Imported consumption goods hardly became more expensive. In the second quarter consumption prices increased by 2.5 %. Still the prices for raw materials were 1.5 % lower than in the third quarter of 2001.

Selling prices rising faster than consumption prices
The selling prices of the manufacturing industry increased by more (+1.1 %) during in the third quarter than consumption prices (+0.6 %) compared to the previous quarter. In the first nine months of 2002, the price level of the sales was on average 2.4 % lower than in the same period of 2001. The consumption prices were 4.1 % lower.

(source: Statistics Netherlands

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