Manufacturing prices rise 2%

Manufacturing prices rose by 2 per cent in the year to May, new data from the Central Statistics Office showed today.

The annual change was influenced by a 6.9 per cent rise in computer, electronic and optical products, and a 4.1 per cent growth in meat and meat products. Other food products including bread and confectionary were also up 6.3 per cent.

The gains were partially offset by a 4.8 per cent decline in dairy products, and a 2.7 per cent fall in pharmaceutical products and preparations. Other manufacturing including medical and dental instruments and supplies also fell by 0.9 per cent.

The yearly price index for mining and quarrying increased by 9.2 per cent, while the monthly index for May increased by 2.1 per cent.

Other significant changes during May included increases in meat and meat products, which rose by 1.5 per cent, computer, electronic and optical products, which were up by 0.8 per cent, and pharmaceutical products and preparations, which rose by 0.7 per cent.

Decreases were recorded in dairy products, down by 0.3 per cent, and other manufacturing including medical and dental supplies, which fell by 0.1 per cent.

Monthly factory gate prices increased by 0.6 per cent in May. The price index for export sales increased by 0.7 per cent, while home sales increased by 0.1 per cent.