Factory gate prices fall as pharmaceuticals, food hit

Factory gate prices fell by 0.6 per cent last month, led lower by pharmaceuticals, electronics and food products.

According to the latest data from the Central Statistics Office, the current annual decline stands at 3.1 per cent, picking up pace from the 1.7 per cent decline recorded in the year to February.

On a monthly basis, the price index for export sales was 0.8 per cent lower, while the home sales index was down 0.2 per cent. Year on year, the decline in export sales was 3.6 per cent, with home sales showing a 1.1 per cent fall in the index.

The monthly changes in factory gate prices were influenced by a rise in the dairy products sector of 0.5 per cent and mineral products, which were 0.3 per cent higher. This was outweighed by a per cent fall in food products, with pharmaceuticals falling by 0.7 per cent and electronics down a similar amount.

On an annual basis, dairy products showed a 12.6 per cent rise, with wood products climbing 10 per cent. Food products were down 7.3 per cent over the year, while pharmaceuticals dropped by 7.3 per cent and electronics declined 6.4 per cent.