The price of manufactured goods rose last month. The Central Statistics Office's manufacturing output price index, which tracks a basket of representative manufacturing goods, was 1.6 per cent higher in June than in May.

On a year-on-year basis, the index was 0.3 per cent lower than in June 2005.

When the effect impact of falling computer products is excluded, manufacturing goods registered an increase of 2 per cent over this period of comparison close to the level of overall inflation. Computer prices fell by 11 per cent.

Manufacturing prices have fallen by almost 12 per cent over the period from 2002 to 2004, partly as a result of increased competition from Asian manufacturing companies.

However this trend masks divergent trends for the prices of goods sold in Ireland, which have continued to rise, and those destined for export, which have fallen dramatically.

Latest trends indicate a gradual return towards positive rates of annual growth, driven by strong annual increases in the prices of chemical, pharmaceutical and certain food products, which are offsetting the impact of falling computer prices on the overall manufacturing output index.

For most other sectors, annual price growth is moderate or negative.

The wholesale price index measures a more inclusive range of product prices, including the price of agricultural goods and imported energy products.

It shows that energy products continued to grow strongly in price

They showed an annual growth rate of 14.1 per cent in June 2005.