Price of goods leaving factories down 2.8%

The price of goods leaving factory gates was down 2.8 per cent in the year to June, the Central Statistics Office (CSO) said today.

According to the CSO's latest wholesale price index, manufactured goods prices rose by 0.9 per cent last month, reducing the annual percentage change from 3 per cent in May to 2.8 per cent.

By category, the most significant changes in the month were increases in food products, up 7 per cent and meat up 1.4 per cent. The cost of dairy products fell 2.5 per cent in the month.

Over the year, office machinery and computer prices have fallen 14.1 per cent while chemical prices are down 6.1 per cent. Meat prices have risen 10.9 per cent in the 12 months to May while other food products are 6 per cent more expensive.

By sector materials costs for the construction sector have increased 4.3 per cent since June 2007 with the price of reinforced metals up 26.9 per cent.

Strong oil prices have seen energy product prices increase 5.4 per cent over the last 12 months while year-on-year the price of petroleum fuels is 36.6 per cent higher.