Factory gate prices up 6.3% in year to May despite monthly fall

Factory gate prices rose 6.3 per cent in the year to May, according to new figures released by the Central Statistics Office.

However, prices fell 2.4 per cent in May compared with the same month a year ago.

In the year to April, prices were up 9 per cent.

During May, the price index for export sales decreased by 2.7 per cent while the home sales index was down 0.3 per cent.

The most significant changes recorded in May were increases in dairy products, up 0.7 per cent and meat/meat products, up 0.3 per cent.

Basic pharmaceutical products and preparations costs fell 3.7 per cent while computer, electronic and optical products were down 3.6 per cent.

Year on year, the price of capital goods increased by 0.9 per cent, while the monthly price index increased 0.2 per cent.

In the 12 months to May there was a 8.1 per cent increase in the price index for export sales, which can be influenced by currency fluctuations, and a 4.2 per cent fall in the price index for home sales.