Factory gate prices up 1 per cent

Factory gate prices rose by 1 per cent on an annual basis in December but were flat compared to the preceding month, new data shows.

Figures from the Central Statistics Office reveal that in the month of December, the price index for export sales rose by 0.1 per cent while the index for homes sales fell by 0.4 per cent.

In the year there was an increase of 0.7 per cent in the price index for export sales and a 2.6 per cent rise in the index for home sales.

The most significant monthly increases were in electrical equipment, computer, electronic and optical products and meat products. There were decreases recorded in basic pharmaceutical products and dairy products.

On an annual basis, there was a 7.8 per cent increase in prices for computer, electronics and optical products and a 7.3 per cent rise in meat products. An 8.8 per cent decrease was recorded for basic pharmaceutical products over the 12-month period.

The yearly price index for mining and quarrying increased by 5.9 per cent while there was a monthly increase of 1.9 per cent.

A further analysis of wholesale prices changes by sector reveals that building sand construction material prices rose by 4.5 per cent since December 2009. In addition, the price of capital goods rose by 1.2 per cent and energy products by 5 per cent on an annual basis.