Manufacturing prices rose more than 6% in June

Annual manufacturing prices rose by more than 6 per cent in June, driven by increases in computer and electronic products, pharmaceuticals and food.

Figures from the Central Statistics Office showed a rise of 18.5 per cent in computer gear, with pharmaceutical products were up almost 10 per cent compared with 2014 and food products such as bread and confectionery rose by 6.7 per cent.

Dairy products showed a significant annual decrease, falling by 13.5 per cent.

On a monthly basis, factory gate prices were up by 0.3 per cent, in line with the increase recorded in June last year. The rise was driven by increases in printing a reproduction of recorded media, which were up 0.8 per cent, with computer products rising 0.6 per cent. This growth was offset by declines in food products, which fell by 0.5 per cent, and dairy and meat products down 0.4 per cent and 0.2 per cent respectively.

The price index for export sales rose by 0.3 per cent compare with May, and 8.1 per cent for the year, although this can be affected by foreign exchange fluctuations. The index for home sales, meanwhile, rose by 0.3 per cent on a monthly basis and 4 per cent annually.

Energy products fell in price over the year, declining by 4 per cent since June 2014.