Factory gate prices rise in May

Monthly factory gate prices rose slightly in May, keeping the annual rate of price growth steady at 1.9 per cent.

Increases in the price of meat, pharmaceuticals and computer products contributed to the rise, offset by a decline in dairy products over the month and chemical and electrical products in the year to May. The price of energy products was 1.4 per cent lower over the year, with petroleum fuels falling by 3.6 per cent. However, on a monthly basis, energy and petrol products were 0.1 per cent higher.

The price index for export sales rose by 0.7 per cent in the month and 2.2 per cent year on year, with the index for home sales falling by 0.3 per cent in the month and rising 0.6 per cent annually.

The price of capital goods was 0.6 per cent higher in the year to May, with the monthly index increasing by 0.1 per cent.