Annual manufacturing prices rise

Manufacturing prices rose by 2.5 per cent in the year to October, new data from the Central Statics Office showed today.

The increase follows a 0.2 per cent rise in factory gate prices in the year to September.

The annual change was influenced by a 10.2 per cent rise in dairy products, while meat products were 0.8 per cent higher. Computer, electronic and optical products recorded a 3.6 per cent rise for the year.

The gains were partially offset by a decline in wood and wood products of 2.6 per cent, and furniture, which fell by 1.9 per cent. Basic pharmaceutical products and pharmaceutical preparations were also down over the year, recording a drop of 1.2 per cent.

However, on a monthly basis, factory gate prices were slightly lower, declining by 0.3 per cent compared to the previous month.

The most significant changes during October were seen in non-metallic mineral products - concrete, glass and ceramic products – which rose by 0.3 per cent. Fabricated metal products, except machinery and equipment, were 0.1 per cent higher. However, decreases were recorded in basic metals, which declined by 3 per cent, and electrical equipment, which was 1 per cent lower.

The monthly figures showed a fall in the price index for export sales of 0.2 per cent. The home sales index was 0.6 per cent lower.

There were more positive for the year, with the export sales index rising 2 per cent in the 12 months to October, although this figure can be influenced by currency fluctuations. The price index for home sales was 4.4 per cent higher over the year.