Factory gate prices 8% lower than a year ago - CSO

The price of goods leaving factory gates were 8.2 per cent lower in June than they were a year before, according to the latest wholesale price index from the Central Statistics Office (CSO).

On a monthly basis, factory gate prices decreased 1.2 per cent last month, compared to a monthly fall of 1 per cent in May and 1.8 per cent in April.

The annual decline of 8.2 per cent in manufacturing prices compared to a 7.4 per cent drop in May.

The price index for export sales fell by 1.5 per cent in the month while the index for home sales rose just 0.1 per cent. Over the course of the 12 months to June, the price index for export sales has fallen 8.7 per cent while home sales have fallen 1.5 per cent.

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Products

The price of food products fell 1.2 per cent in the month but were up 0.4 per cent over the course of the year. The factory prices of dairy products have fallen the hardest among food prices, dipping 3.5 per cent over the past 12 months.

The prices of construction materials, meanwhile rose 0.9 per cent over the year and 0.6 per cent over the month. The price of cement leaving the factory gate, for example, was 5 per cent higher than a year ago in June.

The cost of fuels purchased by the manufacturing industry has fallen sharply over the past 12 months with petrol costs down 7.7 per cent, diesel down 7.9 per cent and electricity costs down almost 40 per cent.