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Service prices for business coming down

Computer costs - 8.5% drop for businesses, says CSO
Computer costs - 8.5% drop for businesses, says CSO

Figures from the Central Statistics Office show a sharp fall in the prices businesses are charged for a range of services.

The CSO's services producer price index fell by 5.7% in the third quarter of this year compared with a year earlier.

The figures, which the CSO says are provisional, show that prices for architecture, engineering and technical testing services have fallen by almost 10% over the year, while prices charged for computer programming and consultancy have dropped by 8.5%.

Prices in one of the biggest categories - legal, accounting, public relations and business management consultancy - fell by 3.3% over the year.

The index, which the CSO stresses is still under development, also shows that price falls appear to be accelerating, with prices down 2.3% compared with the second quarter, compared with a 0.6% fall during the second quarter.