New figures from the Central Statistics Office show that annual manufacturing prices fell by 1.2% in August of this year compared to the same month last year.

The CSO said that manufacturing prices - or factory gate prices -  showed no change in August from July, which compared to an increase of 1% for August of last year.

During the month of August, the biggest price changes were seen in dairy products, which rose by 2%, while computer, electronic and optical prices rose by 0.9% and the price of beverages increased by 0.8%.

There were decreases in meat and meat products (down 1.1%), basic pharmaceutical products and pharmaceutical preparations (down 0.9%), while other food products - including bread and confectionary - fell by -0.9%.

The CSO noted that building and construction materials prices increased by 1.1% in the year since August 2012.

Energy products prices decreased by 2.4% in the year to August, while petroleum fuels dropped by 5.8%.