Industry output prices rise by 4 percent in May

Dutch industry saw sales prices rise by 3.7 percent in May compared to the same month a year ago. Product prices rose by 1 percent in April.

That reports CBS. The price increases are mainly caused by the increase in oil prices. In May 2018, a barrel of crude North Sea Brent oil cost more than 65 euros, more than 40 percent more than a year earlier.

Prices in the automotive, metal products, plastics and rubber industries and the machinery industry were also higher than in May 2017. However, the electrical engineering and food industries had prices in May that were lower than a year earlier. This also applied to the average prices of the repair and installation of machines industry.

Producer confidence is declining

In June 2018, producers in the industry are less positive than a month ago. It indexed trust went from 9.8 in May to 7.7 in June. Producers were mainly less positive about the expected activity.

Despite the decline in confidence, production in the industry in April was 5 percent higher than in April 2017. For more than two and a half years, the industry has been producing more than in the same period a year earlier.