New figures from the Central Statistics Office show that factory gate prices fell by 0.4% in December on a monthly basis.
But on an annual basis, factory gate prices rose by 2.3% in December 2014 compared to December 2013.
The biggest changes on a monthly basis were fish and fish products (up 4.9%), while meat and meat products rose by 0.9% and wood and wood products grew by 0.9%.
Dairy product prices were down 3.5%, while other food products, including bread and confectionary, decreased by 0.7%.
On an annual basis, bread and confectionary prices rose by 4.3%, while computer, electronic and optical products prices increased by 4.2% and basic pharmaceutical products and preparations grew by 3.8%.
Decreases were seen in the prices of vegetable and animal oil and fats - which slumped 17.9% - while dairy products fell by 10.1% and grain milling, starches and animal feeds eased by 3%.
