Manufacturing prices have dropped for the year to July

Annual manufacturing prices decreased in July by 2.4 per, according to figures released today by the Central Statistics Office (CSO).

This compared to a decrease of 1.7 per cent for the year to June.

On a monthly basis, factory output prices decreased by 0.1 per cent, as compared with an increase of 0.7 per cent for the same month in 2013.

Other economic figures show that July also experienced a decrease of 0.1 per cent in the index for export sales and an increase of the same rate for home sales.

For the full year, there was a decrease of 2.9 per cent for export sales, although this can be influenced by currency fluctuations, and an increase of 0.2 per cent in home sales.

The most significant changes recorded last month were rises in furniture price (2.8 per cent), beverages (2.1 per cent) and wood products (1.1 per cent). There were decreases in dairy products (0.6 per cent), computer electronic and optical products (0.4 per cent) and basic pharmaceutical products (0.3 per cent).

On an annual basis, dairy products rose 4 per cent, beverages 3.1 per cent and medical and dental instruments and supplies 1.1 per cent.

Pharmaceutical products fell 6.3 per cent, food products including bread and confectionary dropped 3.1 per cent and computer, electronic and optical products by 1.7 per cent.

Materials in building and construction prices increased by 1.5 per cent for the year since July, 2013. The most notable movers were sand and gravel (rising by 35.7 per cent), hardwood (14.5 per cent) and stone (4.1 per cent).

Against that, fabricated metals dropped in value by 2.5 per cent, alongside decreases in other structural steel (2 per cent) and reinforcing metal (1.4 per cent).