Factory gate prices rise in December

Manufacturing price growth picked up pace in December, new data from the Central Statistics Office showed.

Factory gate prices were 2.4 per cent higher in the year to December 2011, picking up pace from the previous month when prices were 1.9 per cent higher.

The increase was due in part to a rise of 11.5 per cent in the price of dairy products, while meat products were up by 8.7 per cent. Prices for computer and electronic products rose by 2.6 per cent over the year.

This was offset slightly by a 4.5 per cent decline in the price of electrical equipment, while furniture prices were also lower, declining by 3 per cent over the 12-month period. Pharmaceutical products saw prices fall by just under 1 per cent.

On a monthly basis, prices were 0.5 per cent higher. That was slightly lower than the 0.9 per cent rise recorded in November.

The most significant price changes were seen in computer products, which increased by 2.6 per cent, and pharmaceutical products, whci were 1.5 per cent lower.

In the same period, the price index for export sales was 0.5 per cent higher, and the home sales index rose by 0.2 per cent. That changed to 1.9 per cent and 4.3 per cent respectively for the year, although the CSO noted that the export sales index can be affected by currency fluctuations.

The figures also revealed a rise of 2.2 per cent in materials for the building and constructions sector, and a 3.8 per cent rise in energy products.