Annual manufacturing prices down 2.7% in April - CSO

Thursday 22 May 2014 11.44
The annual fall in factory gate prices narrowed during April
The annual fall in factory gate prices narrowed during April

Factory gate prices fell 2.7% in the year to April, according to new figures from the Central Statistics Office.

This compares to a 3.1% price decrease in the twelve months to March.

The smaller decrease was fuelled by a 0.5% rise in prices during April, compared to a 0.1% increase in the same month of 2013.

The price of meat and meat products rose by almost 2% during the month, according to the CSO, while other food prices – including bread and confectionery - were 1.3% higher.

The price of basic pharmaceutical products and preparations also rose during the month - up 1.1% on figures for March.

This was offset somewhat by a 6% fall in the price of fish and fish products and an almost 1% fall in dairy product prices.

The price of dairy products was 10.6% higher on an annual basis, however, while wood and wood products were up 10.2% year on year.

Contributing to the annual decline was a 5.3% drop in the price of pharmaceutical products and preparations, as well as a 1.7% decline in computer, electronic and optical products.

Despite rising on a monthly basis, the price of other food products – including bread and confectionery – were 5.2% lower.