Annual factory gate prices rise

Manufacturing prices rose in February, but at a slower pace, new data from the Central Statistics Office showed today.

Factory gate prices gained 0.6 per cent over the year, but recorded a monthly decline of 0.2 per cent. This compares with an annual rise of 1.3 per cent in January.

The most significant monthly changes were seen in the pulp, paper and paper products which rose by 1.8 per cent, and electrical equipment, which increased by 1.6 per cent.

Some food products showed a monthly decline, such as bread and confectionary, which fell by 1.5 per cent. Computer, electronic and optical products also declined on the month, falling by 1 per cent.

The annual change was influenced by increases in the price index for meat and meat products, which was 6.2 per cent higher compared to February 2010. Computer, electronic and optical products rose 3.8 per cent, while other food products rose 3.2 per cent.

There were yearly declines in pharmaceutical products and preparations, dipping 7 per cent. Beverages fell by 1.8 per cent.

On a monthly basis, the price index for export sales fell by 0.3 per cent, a decline that narrowed to 0.1 per cent on an annual basis. The index for home sales increased by 1 per cent on the month and 4 per cent year on year.

Higher energy prices were also reflected in the index, with prices rising by 5.5 per cent since February 2010. Petroleum fuels were up 16.1 per cent year on year, and 0.6 per cent on the month.