Factory prices rise 1.5% in January

Factory gate prices rose 1.5 per cent in January compared to a month earlier, according to data from the Central Statistics Office (CSO).

This compares to an increase of 0.4 per cent for January 2009.

The latest rise narrows the decrease over the year to January to 2.8 per cent, compared to an annual fall of 3.8 per cent in December 2009. The yearly decline was driven by a fall of 9.6 per cent in basic chemicals, a 4.1 per cent decline in office machinery and computers, and 3.7 per cent in radio, television and communciation equipment.

However, tobacco products rose 7.8 per cent.

On a monthly basis, the most significant changes were seen in basic chemicals, which rose 4.9 per cent, a 1.7 per cent rise in pharmaceuticals and other chemical products and an increase of 1.4 per cent in other food products. Beverages fell 0.3 per cent.

The price index for export sales rose by 2 per cent in the month, and the index for home sales fell 0.2 per cent.

Over the year, the index for export sales increased 3.3 per cent over the year and the price index for home sales fell 0.9 per cent.