Monthly factory gate prices – the cost of manufacturing goods before profit mark-up is added –decreased by 0.1% in January.
This compares to an increase of 2.2% for January in 2015.
The data from the Central Statistic Office indicated that the annual percentage change showed an increase of 1.3% in January, compared with an increase of 3.6% in the year to December 2015.
In the month, the price index for export sales increased by 0.2%, while the index for home sales decreased by 1.4%.
Meanwhile, there was an increase of 2% in the price index for export sales, which can be influenced by currency fluctuations, and a decrease of 2.6% in respect of the price index for home sales.
In January the most significant changes in manufacturing cost were seen in dairy products, which increased by 4%, while ‘Other food’ products including bread and confectionery rose 1.9%, and basic pharmaceutical products and pharmaceutical preparations were 0.4% more expensive to produce.
The CSO data shows there were decreases in basic metals (-13.7%), printing and reproduction of recorded media (-2.9%) and chemicals and chemical products (-1.8%).
Contributing to the annual change were increases in computer, electronic and optical products (+6.2%), basic pharmaceutical products and pharmaceutical preparations (+3.1%) and ‘Other food’ products including bread and confectionery (+0.6%), while there were decreases in basic metals (-15.1%), dairy products (-4.6%) and fruit and vegetables (-2.4%).
Cost of manufacture for mining and quarrying fell by 6.9% annually, while the monthly index decreased by 1.6%.
The statistics indicate that year-on-year in January the cost of building and construction materials rose by 1.4%
The most notable yearly changes were increases in Sand and gravel (+8.2%), Stone (+6%) and ‘All other metal fittings’ (+5.1%), while there were decreases in ‘Other timber’ excluding windows and doors (-9%), reinforcing metal (-3.2%) and ‘Other structural’ steel (-0.7%).
Year on year, the price of capital goods increased by 0.8%, while the monthly price index remained the same.
The price of Energy products decreased fell by 16.4% in the year since January 2015, while petroleum fuels decreased by 9.5%.
In January, the monthly price index for energy products decreased by 5.7%, while petroleum fuels decreased by 3.4%.
