Price of manufactured goods up 2.5% for year

MANUFACTURING PRICES rose by 2.5 per cent in the year to October, new data from the Central Statics Office showed.

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

The 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.

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 preparations were also down, 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 in concrete, glass and ceramic products which rose 0.3 per cent. Fabricated metal products, except machinery and equipment, were 0.1 per cent higher. 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. The price index for home sales was 4.4 per cent higher over the year.