Prices for products leaving Irish factories increased 4.5 per cent over the year to March despite a 1 per cent decline last month.
The wholesale price index, which measures the selling price of goods manufactured in the State, decreased by 1 per cent in March, compared to a decrease of 1.6 per cent in the same month the previous year, according to the Central Statistics Office (CSO).
The index had a reading of 89.9 in March. It took prices in 2000 as a benchmark when it set the baseline at 100.
The most significant monthly change was a 2.1 per cent decline in prices for office machinery and computers and a 1.1 per cent drop in prices for basic chemicals.
Over the year prices for pharmaceutical and chemical products rose by 13 per cent while food rose 11.8 per cent.
The fall in oil prices since last July contributed to a 23.7 per cent fall in the price of petroleum fuel products over the 12 months to March while energy products declined 0.9 per cent in the month of March.
The impact of the property slowdown since mid-2008 was reflected in a 12.2 per cent decline in reinforcing metal. Building and construction material prices fell 0.6 per cent last month.
Over the year to December prices for these products have fallen 2.4 per cent.