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Cost of manufacturing rises in November - CSO

The most significant price changes were increases in computer, electronic and optical products, basic pharmaceutical products and pharmaceutical preparations
The most significant price changes were increases in computer, electronic and optical products, basic pharmaceutical products and pharmaceutical preparations

Monthly factory gate prices, the cost of manufacturing goods before profit mark-up is added, rose by 2.9% in November.

This compares to an increase of 0.3% for the same month last year. The annual percentage change showed an increase of 4.4% in November 2015, compared with an increase of 1.8% in the year to the end of October.

The figures from the Central Statistics Office also show that the price for export sales increased by 3.2% in November, while the index for home sales increased by 0.3%.

Annually there was an increase of 5.8% in the price index for export sales (this can be influenced by currency fluctuations) and a decrease of 4.6% in respect of the price index for home sales.

The most significant price changes were increases in computer, electronic and optical products (+4.0%), basic pharmaceutical products and pharmaceutical preparations (+3.9%) and ‘other food’ products - including bread and confectionery (+3.6%).

Meanwhile, the cost of production of dairy products fell by 0.9%.

Year-on-year computer there were increases for electronic and optical products (+14.2%), basic pharmaceutical products and pharmaceutical preparations (+7.0%) and ‘other food’ products including bread and confectionery (+4.1%).

Annually there were drops in the areas of dairy products (-13.1%), fruit and vegetables (-3.3%) and ‘other non-metallic’ mineral products (-1.9%).

According to the CSO, the cost of production for building and construction materials increased by 1.3% between November this year and the same month in 2014.

Elsewhere, there have been significant drops in the price of energy products (-16.5%) in the year since November 2014, while petroleum fuels decreased by 11.6%.