Factory gate prices rise 1.2%

Annual manufacturing prices rose last month, but the pace of growth declined, according to data from the Central Statistics Office.

Factory gate prices were up 1.2 per cent compared with June 2009, down from the annual rise of 2.0 per cent recorded in May. This was partly due to a month-on-month decline of 0.4 per cent.

The annual price change was influnced by a 12.5 per cent rise in computer, electronic and optical products, and a 10.4 per cent increase in dairy products. Other food product, including bread and confectionary, recorded a 6.7 per cent rise.

There were declines in basic pharmaceutical products and pharmaceutical preparations, beverages and fabricated metal products, except machinery and equipment.

The most significant changes during the month were rises in wood and wood products, which grew by 3.3 per cent, a 0.8 per cent rise in meat and meat products, and a 0.7 per cent increase in computer, electronic and optical products. This was offset by a 1.1 per cent decline in basic pharmaceutical
products and pharmaceutical preparations, and a 0.2 per cent drop in machinery and equipment.

In the month, the price index for export sales fell 0.2 per cent, and the home sales index declined by 1.2 per cent. On a yearly basis, the export sales index rose 1.2 per cent, which could be partly attributed to currency fluctuations, while the homes sales price index rose 1.0 per cent.

The price of capital goods increased by 0.9 per cent between June 2009 and last month. The monthly price index decreased by 0.1 per cent. There was also a rise in all material prices in the construction sector over the year.

Energy products rose 5.4 per cent in price over the year, with petroleum fuels increasing 17.6 per cent. Last month saw a decline in the monthly price index for energy products of 0.4 per cent.