New figures from the Central Statistics Office show that annual manufacturing prices decreased by 3.1% in March.

The CSO said that monthly factory gate prices fell by 0.6% last month, which compares to an increase of 0.9% recorded for March of last year. 

It noted that building and construction material prices increased by 1% in the year since March 2013, while the price of energy products decreased by 17.2% and petroleum fuels fell by 3.2%. 

In March of this year, the monthly price index for energy products increased by 1.4%, while petroleum fuels decreased by 1.3%.