Annual manufacturing prices rise

Annual manufacturing prices rose 0.9 per cent in July, but monthly prices saw a 0.6 per cent decline, new data from the Central Statistics Office said.

An 11.2 per cent rise in price in computer, electronic and optical products contributed to the annual increase, with dairy products recording a 10.8 per cent price hike. Other food products including bread and confectionery rose 6.1 per cent year on year. This was partially offset by decreases in basic pharmaceutical products and pharmaceutical preparations, which declined 9.6 per cent, and a 4.2 per cent fall in beverages.

However, on a monthly basis, other food products fell 1.5 per cent, and computer, electronic and optical products declined 0.8 per cent. Basic pharmaceutical products and pharmaceutical preparations, meanwhile, were down 0.7 per cent. Increases were recorded in rubber and plastic products, which rose 1 per cent, and dairy products recorded a slight rise.

The price index for export sales fell by 0.7 per cent in the month, but rose 1.2 per cent on the year, partly due to currency fluctuations. The index for home sales increased by 0.2 per cent month on month, and 0.1 per cent on an annual basis.

The price of capital goods increased by 1.4 per cent compared with July 2009, and the monthly price index increased by 0.4 per cent.

Energy products got more expensive year on year, rising by 7.3 per cent. Petroleum fuels increased by 24.1 per cent.