Manufacturing prices rise 2.3%

Annual manufacturing prices rose by 2.3 per cent in February, new data from the Central Statistics Office showed today.

The annual rate of growth moderated from the 2.7 per cent recorded in January as monthly factory gate prices fell by 0.6 per cent in February.

The price of food and computer products climbed over the year, but the decreases in manufacturing process for electrical equipment and furniture weighed on the sector.

The year saw a rise in price for meat products of 7.8 per cent, while a 4.9 per cent increase in food product was also recorded over the 12 months. However, electrical equipment declined by 3.2 per cent in the same period, while furniture manufacturing prices saw a 2.3 per cent dip.

Over the month, a rise in the price of food products of 2.1 per cent and a 1.5 increase in electrical equipment were offset by decreases in computer and electronic products, which were 2.0 per cent lower, and a 1.4 per cent fall in pharmaceutical products.

On a monthly basis, the price index for export sales fell by 0.9 per cent and the home sales index was 0.3 per cent higher.

The price index for export sales showed an annual rise of 1.9 per cent, while the home sales index gained 3.7 per cent.