Manufacturing prices up 2% in year to May

Manufacturing prices rose by 2 per cent in the year to May, new data from the Central Statistics Office shows.

The annual change was influenced by a 6.9 per cent increase in computer, electronic and optical products and a 4.1 per cent growth in meat and meat products. Other food products, including bread and confectionary, were up by 6.3 per cent.

The gains were partially offset by an annual 4.8 per cent fall in dairy prices and a 2.7 per cent fall in pharmaceutical products and preparations. Other manufacturing, including medical and dental supplies, also fell by 0.9 per cent.

The yearly price index for mining and quarrying was up 9.2 per cent, while the monthly index for May rose by 2.1 per cent.

The most significant changes in May included a 1.5 per cent increase in meat and meat products, a 0.8 per cent rise in computer, electronic and optical products and a 0.7 per cent rise in pharmaceuticals.

There were monthly price falls in dairy products, down 0.3 per cent, and other manufacturing including medical and dental supplies, down 0.1 per cent.