Dairy products push wholesale price index up

Rising cost of dairy and meat products sees marginal rise in price index

The cost of dairy products increased by 16.4 per cent in the year to September. Photograph: Jessica Rinaldi/Reuters

The cost of dairy products increased by 16.4 per cent in the year to September. Photograph: Jessica Rinaldi/Reuters

Wed, Oct 30, 2013, 14:50

Wholesale prices grew by 0.5 per cent in the year to September 2013, up from a decrease of 1.4 per cent in the previous month, driven by rising dairy and meat products prices.

In the month of September, prices decreased by 0.2 per cent compared to a decrease of 2.1 per cent for the same month last year.

The most significant changes were increases in printing and reproduction of recorded media (+1.0 per cent), beverages (+0.4 per cent) and dairy products (+0.2 per cent), while there were decreases in other food products including bread and confectionary (-0.8 per cent).

On an annual basis the most significant changes were an increase in dairy products (+16.4 per cent); meat and meat products (+3.8 per cent); and computer, electronic and optical products (+1.8 per cent), while there were decreases in other food products including bread and confectionary (-3.3 per cent), and chemicals and chemical products (-1.9 per cent).

Energy prices fell by 2.7 per cent in the year to September 2013, with petroleum fuels down by 5 per cent. In September however, energy prices increased by 4 per cent.

In the building and construction sector, all material prices increased by 1.6 per cent in the year, driven by notable increases in stone (+8 per cent); glass (+5.7 per cent); and PVC pipes and fittings (+4.6 per cent).