Manufacturing prices up 5.2 per cent in year to February

Manufacturing prices rose by 5.2 per cent for the year ending February 28th, according to new figures published by the Central Statistics Office (CSO).

This compared to a 4.1 per cent rise in prices in the year to January.

The data show monthly factory gate prices were up by 0.9 per cent last month, as against a decrease of 0.2 per cent for the same month a year earlier.

The price index for export sales was up 1.3 per cent last month and rose by 7.2 per cent on an annual basis. The index for home sales fell 1 per cent on a monthly basis and by 6.1 per cent for the year.

Contributing to the annual change in factory gate prices were increases in computer, electronic and optical products, which rose 12.3 per cent and other food products including bread and confectionery, which increased by 9.4 per cent. Basic pharmaceutical products and pharmaceutical preparations increased 8.8 per cent over the year.

At the same time there were decreases in dairy products, down 13.5 per cent, grain milling, starches and animal feeds, which declined 3 per cent, and other non-metallic mineral products, down 1 per cent.

The yearly price index for mining and quarrying increased by 0.2 per cent while the monthly index increased by 3.8 per cent, the figures show.

Meanwhile, building and construction materials prices rose by 0.7 per cent in the year since February 2014. The most notable yearly changes were increases in Hardwood, up 28.6 per cent, glass, up 6.4 per cent and stone, up 3.6 per cent.

Year-on-year, the price of capital goods increased by 0.9 per cent while the monthly price index decreased by 0.1 per cent.

The figures show the price of energy products fell by 2.7 per cent in the year while petroleum fuels decreased by 12.1 per cent.

In the month of February, the most significant price changes were increases in meat and meat products, basic pharmaceutical products and pharmaceutical preparations, and computer, electronic and optical products. There were also decreases in prices for furniture, wood and wood products and dairy products.