New figures from the Central Statistics Office show that manufacturing prices fell by 2.4% on July on an annual basis.

Manufacturing prices - or factory gate prices - fell by 0.1% in July compared to June.

On a monthly basis, the biggest price changes were seen in furniture (up 2.8%), beverages (up 2.1%) and wood and wood products (up 1.1%). 

Small prices decreases were seen in dairy products, computer, electronic and optical products and basis pharmaceutical and pharmaceutical preparations.

The CSO noted that all building and construction material prices increased by 1.5% in the year to July, with sand and gravel prices up 35.7% in the year, hardwood up  by 14.5% and stone up 4%.

The price of energy products decreased by 13.7% on an annual basis, with petroleum fuels down by 1.2%, the CSO added.